Iran's Revolutionary Guard said the British tanker, Stena Impero, failed to follow international maritime rules.World Newsread more
Amazon hires Trump-allied lobbyist Jeff Miller as battle for Pentagon contract heats up.Politicsread more
In a series of tweets, the president addressed an unusual controversy stemming from a speech delivered Thursday by New York Fed President John Williams.Marketsread more
Boston Federal Reserve President Eric Rosengren is lining up against an apparent push to cut interest rates, telling CNBC in an interview Friday that the central bank can...The Fedread more
More than a quarter of the S&P 500 companies report earnings in the week ahead, and that could buffet the market as investors await the Fed's meeting at the end of the month.Market Insiderread more
Companies aren't waiting for the U.S.-China trade war to be resolved, says the head of the world's biggest money manager.Investingread more
Trump's constant berating of the Fed and its actions does not influence the central bank's decisions, Boston Fed's Eric Rosengren says.The Fedread more
Executives from United Airlines and American Airlines were "shocked" that state-owned airline Qatar Airways CEO Akbar Al Baker was also invited to the meeting, according to a...Airlinesread more
J.C. Penney on Friday afternoon issued a statement responding to a report that the embattled department store chain had hired advisors to explore debt restructuring options,...Retailread more
Earlier this week, a lawyer said Jeffrey Epstein, a former friend of Presidents Donald Trump and Bill Clinton, had "improper sexual contact" with at least one woman under the...Politicsread more
Walmart is making further organizational changes as it continues to integrate its store and digital operations and leadership, according to a memo obtained by CNBC that was...Retailread more
Over half a trillion dollars of value has been wiped off the entire cryptocurrency market in just under a month, as the prices of popular digital coins plunge.
On January 7, the market capitalization or value of the entire cryptocurrency market hit an all-time high of $835.69 billion, according to Coinmarketcap.com, a website that takes into account the prices of over 1,000 digital coins across different exchanges. In early trade on Tuesday, the value of the cryptocurrency market had plunged to $278.53 billion, marking a more than $557.1 billion drop since the record high.
It comes as virtual coins across the board take a hammering. Bitcoin briefly dipped below $6,000 for the first time since mid-November on Monday, according to data from CoinDesk. Bitcoin is still significantly higher on the year but down sharply since it recorded an all-time high of $19,783.21 in December.
Bitcoin's market cap has fallen $233.5 billion since that record high.
Ethereum meanwhile, which hit an all-time high of $1,432.88 on January 13, traded around $577 on Tuesday, marking a near 60 percent decline in a few weeks, according to Coinmarketcap.com data.
Third-largest cryptocurrency ripple is off more than 80 percent from its record high of $3.81 it hit earlier this month.
Both ripple and ethereum are higher than a year ago.
The sell-off appears to be prompted by a number of factors. On Monday, Financial News, a publication closely affiliated with the People's Bank of China, reported that the central bank will block all platforms related to cryptocurrency trading and the issuance of so-called initial coin offerings (ICOs).
And India's Finance Minister Arun Jaitley said last week that the country wants to "eliminate" the use of digital currencies in criminal activities, though India is a minor player in cryptocurrencies and the government apparently has yet to act.
Other worries are plaguing the digital currency market, particularly around a cryptocurrency called tether. Some experts have suggested that tether, which is pegged to the U.S. dollar, could be being created to prop up the bitcoin price.