Shares of companies exposed to cryptocurrencies slumped Monday, after bitcoin BTCUSD, -0.45% fell back below the $20,000 level for the first time in seven weeks, as hawkish comments from Federal Reserve Chairman Jerome Powell last week sparked a risk-off selloff. Bitcoin dropped 3.6% to $19,690, putting it on track for the fifth close below $20,000 since mid-June, after not closing below it since December 2020. Among shares of companies that are all about crypto, Coinbase Global Inc. COIN, -6.49% slid 3.0%, Marathon Digital Holdings Inc. MARA, -11.88% shed 4.3% and Riot Blockchain Inc. RIOT, -8.61% declined 4.4%. Among some other companies with significant crypto exposure, shares of MicroStrategy Inc. MSTR, -8.65% slumped 3.7% and Signature Bank SBNY, -5.09% slipped 0.6%. Meanwhile, futures ES00, -0.75% for the S&P 500 SPX, -3.37% dropped 0.9%, following a 3.4% plunge in the S&P 500 on Friday after Powell made his hawkish comments.
