Every S&P 500 Sector Fell in First Half, Except Energy. But in June Even Energy Let Go. Bonds Got Crushed. I’m Not Even Going to Mention Cryptos & DiFi | Wolf Street

There is a whole gaggle of crypto-related stocks that are down over 80% and 90%. For example:

Coinbase [COIN]: -89% from the peak in April 2021; -81% in the first half.

MicroStrategy: -88% from the high in February 2021; -71% in the first half.

Hut & Mining [HUT]: -92% from the peak in November 2021; -83% in the first half.

Riot Blockchain [RIOT]: -92% from the peak in February 2021; -81% in the first half.

Marathon Digital [MARA]: -94% from November; -84% in the first half.

Cryptos alone have lost $2 trillion in market cap, and then there are the losses by DiFi and in publicly traded stocks and in loans whose collateral has vanished. Thankfully, a big part of the losses go to holders overseas, and so this is much less of a US problem.

Every S&P 500 Sector Fell in First Half, Except Energy. But in June Even Energy Let Go. Bonds Got Crushed. I’m Not Even Going to Mention Cryptos & DiFi | Wolf Street