10-03-2025
Market's Speculative Fringe Is Blasted as Equity Rout Snowballs
The flight from risk taking place in US equities has been painful for the tech giants who were last year's big winners, but it pales in comparison to the walloping being doled out in the more speculative fringes of the market.
Take Reddit Inc., the social-media company whose shares more than quadrupled last year. It tumbled 20% on Monday, its worst day since going public last year. Retail favorites like Tesla Inc. and Palantir Inc. both sank more than 10%. Strategy Inc., which has turned into a proxy for Bitcoin, dropped 17% and Cathie Wood's ARK Innovation exchange-traded fund declined 8.8%.
