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Stocks close Monday in the red, bitcoin edges higher

All three market indices (^DJI, ^IXIC, ^GSPC) close lower to kick off the first full trading week in March. Bitcoin's (BTC-USD) rally pushes the crypto closer to its all-time high reached in late 2021, sitting above $67,000.

Yahoo Finance's Julie Hyman and Jared Blikre highlight the market and sector action seen after Monday's closing bell.

For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

Editor's note: This article was written by Luke Carberry Mogan.

Video transcript


JULIE HYMAN: There's the closing bell on Wall Street. And now it is market domination over time. Josh and I joined by Jared Blikre to get you up to speed on the action from today's session.


Let's see where the major averages ended up. We see declines across the board here. A little bit deeper than they were just an hour ago.

The NASDAQ up by 4/10 of 1%. The S&P off a tenth. And the Dow down a quarter of 1%.

So that's what we saw from the major averages. But we continue to see Bitcoin move higher. That's really the big asset that we have been watching on the day.

67,800. While we have seen the major averages move down since we last checked in, we have seen Bitcoin continue to push higher here. Let's move it over to Jared now for a closer look at today's sector action.

JARED BLIKRE: Thank you, Julie. And as we've been tracking all day, utilities in the lead. It's up 1.65% into the close.

Also real estate another interest rate sensitive sector up over 1%. The big losers here are communication services, consumer discretionary, and energy all trading to the downside. We do have some records here.

So industrials record high. And tech, guess what? Just missed it by a little bit of a hair there.

But let's take a look at some of the sentiment indicators here. Bitcoin by far and away the day's leader here. But also Korean stocks and also SOXX. That is a chip stock ETF, SOXX.

That notched a record high. That's on the back of an NVIDIA record high. And I know Josh has some words about NVIDIA in a second.

Don't want to steal his thunder. So just checking in on some of the losers. It was cannabis and internet stocks over in China. Those were the biggest losers today.

I do want to track one sector, in particular, that overall, we're seeing some green. And that is a banking sector. But when we switch over to regional banks, one name in particular is standing out. That is New York Community Bank down an additional 23% today.

And if we add to that the year to date losses, we're looking at a total of 73% and a half of that stock lost in value today.