Cryptocurrencies slide as market selloff deepens

FILE PHOTO: Representations of cryptocurrencies Bitcoin, Ethereum, DogeCoin, Ripple, Litecoin are placed on PC motherboard in this illustration taken, June 29, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

LONDON (Reuters) - Prices of cryptocurrencies plunged on Monday as concerns over the spillover risk to the global economy from Chinese property group Evergrande's troubles rippled over to wider markets.

Bitcoin, the world's biggest and best-known cryptocurrency, tumbled more than 8% to $42,453, its lowest level since Aug. 7 before trimming some losses to trade down 7%. It hit a near four-month high above $52,000 on Sept. 6.