A brutal bout of selling wiped billions of dollars from profitless growth companies, IPO stocks and SPACs

 Retail dip-buyers, whose willingness to stand firm amid turmoil has helped power the S&P 500 to a 21% gain in 2021, are nursing some of their worst wounds of the year as losses pile up in speculative corners. 

A hawkish turn from the Federal Reserve and the omicron variant have erased more than 10% off the market value of cryptocurrencies, $50 billion from newly public companies and 14% from a basket of meme stocks.

Bloomberg 5 December 2021

https://www.bloomberg.com/news/articles/2021-12-05/shock-to-crypto-daredevils-joins-list-of-scary-omens-in-markets


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