A selloff for bitcoin and other cryptocurrencies showed no signs of letting up on Friday, and investors were watching closely as a rout in those assets increasingly has been viewed as predictive for where the broader stock market is headed.
Treasury chief Scott Bessent has repeatedly brought up how he expects Americans to ring in the new year in part by reducing the amount of federal income tax that they hand over in every paycheck, making the move due to the tax cuts in the GOP's One Big Beautiful Bill Act.
