Wall Street sell-off batters bitcoin, pounds palladium as investors go to cash
March 12, 2020 at 19:11 PM EDT
Crushing asset sell-offs ranging from bitcoin to precious metals and European stocks accompanied Wall Street's slide into bear market territory on Thursday, as investors liquidated positions across their portfolios to raise cash. Bitcoin dropped 26%, marking its largest fall in seven years, as fears of the coronavirus' economic impact unnerved investors. Palladium and platinum - precious metals that are key components of auto exhaust systems - posted their biggest