The Daily Chase: Markets rattled as U.S. Fed considers biggest rate rise in decades; Bitcoin falls

Toronto’s benchmark S&P/TSX composite index dropped back into correction territory on Monday after it closed down 2.63 per cent at 19,742.55.

BITCOIN DROPS BELOW US$23,000, CRYPTO SLUMP DEEPENS

Cryptocurrencies remain under pressure with Bitcoin dipping below the US$23,000 mark for the first time since late 2020. The world’s largest cryptocurrency is down almost 27 per cent over the past five days. According to data provided by Coinmarketcap, the global cryptocurrency market cap briefly dropped below US$1-trillion level for the first time since January 2021. 

REAL ESTATE SLOWDOWN A GOOD THING FOR ECONOMY: REPORT