ASX to fall, bitcoin losses grow

Australian shares are poised to fall at the open in line with extended losses in New York. Bitcoin plunged below $US64,000 as its rout showed no sign of tapering. Silver shed as much as 18 per cent before paring that loss in half. Volatility spiked.

The NYSE Fang + Index, which tracks the US megacap techs, was 2.4 per cent lower, taking its five-session loss to 7 per cent. Amazon, which reported results after the closing bell, lost 4.2 per cent. Microsoft slumped 5 per cent. Bitcoin was trading at $US63,691 at 4.40pm on bitstamp.net.

Source: https://www.afr.com/markets/equity-markets/asx-to-drop-us-techs-extend-sell-off-bitcoin-plunges-below-us64-000-20260206-p5o00n