On Thursday, the U.S. stock market closed with a decline in the main business activity indices.
Dow Jones reached an all-time high at 40,051.05 points. The ascent of this indicator began back in late 2022, CNBC reported.
The May rally led it to set a record, but the day before it fell 0.1% to 39,869.38 points. The S&P 500 and Nasdaq 100 also finished lower on Thursday.
Digital currencies faced profit taking.
Seller activation was expected after bitcoin (BTC) Wednesday broke above $65,000.
On the night of Friday, May 17, BTC fell 0.9% to $65,147. Ether (ETH) failed to hold above $3,000 and fell below that mark. At the time of publishing this review, the altcoin was trading at $2938.
Investors are skeptical about ETH’s near-term prospects. Last week, large capital began to withdraw from funds investing in ether.
Traders do not believe that the U.S. Securities and Exchange Commission (SEC) will approve applications to issue spot ETFs at the end of May.
Solana (SOL) slipped to $158 and Binance Coin (BNB) fell in price to $567.
Baird analyst Ross Mayfield predicts a return of the bullish trend to the stock market. In his opinion, there are no signals for long-term capital outflow from risky assets.