Coinbase Global Inc COIN shares are trading lower by 10.34% to $66.27 going into the close of Friday's trading session. Shares of several banks and financial services companies are trading lower amid overall market weakness following better-than-expected U.S. unemployment data, which could negatively impact lending as it dims the outlook for a Fed policy pivot. A rise in Treasury yields have also weighed on the sector.<\/p>\n
Coinbase is also trading lower in sympathy with the price of Bitcoin BTC\/USD and Ethereum ETH\/USD.<\/p>\n
Bitcoin and Ethereum are trading lower by 2.72% to $19,400 and 2.24% to $1,320, respectively, going into the close of Friday's session.<\/p>\n
See Also:Why Microsoft Shares Are Diving<\/p>\n
What's Going On In The Broader Market?<\/p>\n
The U.S. added 263,000 jobs last month, outpacing average economist estimates of 250,000 jobs, according to Benzinga Pro.<\/p>\n
Newdatafrom the Bureau of Labor Statistics showed the U.S. unemployment rate at 3.5%, beating the 3.7% level economists had projected. The labor participation rate dropped 0.1% to 62.3%, compared to the 63.4% pre-pandemic rate in February 2020...Read More<\/p>\n
According to data fromBenzinga Pro, Coinbase has a 52-week high of$368.90and a 52-week low of$40.83.<\/p>\n
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Why Bitcoin-, Ethereum- And Litecoin-Related Stock Coinbase Is Getting Hammered - Coinbase Global (NASDAQ - Benzinga<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Coinbase Global Inc COIN shares are trading lower by 10.34% to $66.27 going into the close of Friday's trading session. Shares of several banks and financial services companies are trading lower amid overall market weakness following better-than-expected U.S Continue reading