NEW YORK: U.S. stocks slid on Thursday after U.S. President Joe Biden said China was poised to"eat our lunch," a warning that raised concerns for a market hovering near record highs on hopes of more stimulus, strong earnings and an improving outlook for the pandemic.
"Markets are starting to get a little bit nervous over the relations between the West and China," Moya said. Bank of New York Mellon rose about 1.0per cent after saying it had formed a new unit to help clients hold, transfer and issue digital assets, sending Bitcoin up over 8per cent to an all-time high of US$48,481.
"There is room for the market to take a breather but usually there is some sort of catalyst that gets that going," said Tom Martin, senior portfolio manager at Globalt Investments in Atlanta.