Dip-buyers are testing the waters on Tuesday, fishing for deals in digital currencies, tech stocks and crude.
That's pushing U.S. futures into the green a day after a brutal $1.3 trillion sell-off plunged the benchmark S&P 500 officially into bear territory, and wiped out all gains made during the Joe Biden presidency—fears of a volley of big interest rate-hikes by the Federal Reserve, spurred by Friday's high inflation number, took the blame.
At 5:30 a.m. ET, the S&P 500 was up 0.5%, but down from bigger highs earlier in the morning. At the same point, Bitcoin was trading around $22,300. The king of crypto has rebounded from overnight lows that saw it sink below $21,000, a level it last touched in December 2020.
Still, the combined market cap for crypto—including Bitcoin and Ethereum's Ether—has fallen by roughly two-thirds since a period in mid-November when all things crypto were booming at all-time highs.
Tech stocks didn't fare much better to start the week. The Nasdaq...
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