Is virtual currency on the market’s “naughty list”?

After a strong end to last month, the market lost momentum and stumbled on Monday as cryptocurrencies fell.

All three major U.S. indexes ended their five-day winning streaks as Bitcoin, the world’s largest cryptocurrency, fell about 6% to trade below $86,000, putting downward pressure on stock markets.

This was Bitcoin’s worst day since March. The digital currency fell below $90,000 late last month for the first time since April and has struggled to maintain that level ever since.

Investors appear to be adding cryptocurrencies to their “naughty list” even as the Fed’s much-anticipated end-of-year Christmas gift of interest rate cuts becomes more likely.

As we move deeper into December, will the market be able to shake off the crypto cooldown, and will tech stocks be the heroes that continue to push prices higher? Watch this space.

Nvidia and Synopsys partnership. The company announced Monday that it has purchased Synopsys common stock for $2 billion as part of a strategic partnership to accelerate computing and AI engineering solutions.

Apple’s head of AI resigns John Giannandrea, who has held the position since 2018, will be replaced by AI researcher Amar Sbramagna, who most recently worked at Microsoft and previously worked at Google’s DeepMind AI division. Apple said Gianandrea will continue to serve as an advisor until he retires next spring.

Selling virtual currency. Bitcoin and Ethereum plummeted on Monday, posting declines of 5% and 7%, respectively. Pressure on Hong Kong-listed stocks of digital asset companies increased on Monday after the People’s Bank of China issued a statement on Saturday warning of illegal activities related to digital currencies.

The market will fall. All three US indexes ended their winning streaks on the 5th, with the Dow Jones Industrial Average recording the biggest decline, dropping 0.9%. The Nasdaq Composite fell 0.38%, and the S&P 500 fell 0.53%.

(PRO) Analysts are positive on electric aircraft stocks. Wall Street analysts are bullish on electric plane maker Beta Technologies, with Goldman Sachs, Morgan Stanley and Bank of America initiating coverage with buy ratings. Citi views the stock as a high-risk, high-reward stock, and has set a price target that suggests an upside of 50%.

Kalsi files lawsuit against crypto traders over tokenized gambling contracts

Karshi bettors on the exchange and prediction market can now buy and sell tokenized versions of their stakes on Solana, the company exclusively told CNBC on Monday.

This is the latest sign that the prediction market firm is stepping up efforts to court the same crypto holders who have funneled billions of dollars in digital assets to rival Polymarket.

Tokenization refers to creating digital versions of real-world financial assets such as stocks, bonds, and Treasury bills. The resulting tokens can be held or traded like regular assets and reside on a distributed ledger called a blockchain, such as Solana or Bitcoin.

— Liz Napolitano