A grizzly bear attempts to open Christmas presents given to them by their keepers, at the La Fleche Zoo, western France, on December 23, 2024.

(Jean-Francois Monier/Getty Images)

Stocks and bitcoin slide as investors’ appetite for risk wanes

Stocks broke their five-session winning streak.

Tasha Matsumoto

12/1/25 4:02PM

The S&P 500, Nasdaq 100, and Russell 2000 all traded lower as Bitcoin slumped and investors eschewed riskier assets. Hopes for a December rate cut remained high, with Bank of America analysts joining the bandwagon of hopefuls anticipating a rate cut at the conclusion of the Fed’s two-day meeting next Wednesday.

Stocks that moved higher:

Synopsys soared after Nvidia announced a $2 billion purchase of its stock as part of a partnership between the two firms.
Accenture jumped on a new partnership with OpenAI.

Stocks that moved lower:

As Bitcoin slid, crypto-adjacent stocks like Coinbase and treasury companies like MARA Holdings and Strategy fell. Today, Strategy announced a $1.44 billion “US dollar reserve” to avoid participating in any bitcoin fire sale.
Air taxi companies were in the red as Goldman Sachs initiated coverage on Joby Aviation, Archer Aviation, and Beta Technologies .
Chinese EV maker Nio dipped as its November delivery total came in 10% below the company’s record delivery total in October.
Airbus dropped after a report of quality issues with its A320s.
Korean e-commerce giant Coupang dropped after disclosing a data breach of 33.7 million accounts.

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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