NEW YORK: A brutal bout of selling that wiped billions of dollars from profitless growth companies, initial public offering stocks and special purpose acquisition company’s (SPACs) has now caught up with bitcoin, further stressing risk tolerances and brokerage balances among small-time traders.
Retail dip-buyers, whose willingness to stand firm amid turmoil has helped power the S&P 500 to a 21% gain in 2021, are nursing some of their worst wounds of the year as losses pile up in speculative corners.
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