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Falling ETH prices also threaten other DeFi loans, with potential liquidations that could further impact the token's price.

El Salvador had previously entered an agreement with Argentina.

States across the country have recently scrapped or postponed Strategic Bitcoin Reserve bills.

HOUSTON (Reuters) -BlackRock CEO Larry Fink said on Monday that inflation in the United States will be elevated by nationalistic policies, including the deportation of workers. The head of the U.S. investment management company, speaking at the CERAWeek conference in Houston, added that markets are discounting inflation and there will be further cost increases over the next six to nine months. "I think if we all are becoming a little more nationalistic - and I'm not saying that's a bad thing, you know, it does resonate with me - that it's going to have elevated inflation," he said.

(Bloomberg) -- A Securities and Exchange Commission proposal requiring digital asset exchanges to register under alternative trading system rules is in for an overhaul. Most Read from BloombergNJ College to Merge With State School After Financial StressNYC Congestion Pricing Toll Gains Support Among City ResidentsWhere New York City's Zoning Reform Will Add HousingBuffalo’s Billion-Dollar Freeway Fix Is on Ice, But Not Because of TrumpInside the ‘Not Architecture’ of High Line Designers Diller S

(Bloomberg) -- Oil slid to a six-month low as signs of economic weakness in the world’s two biggest crude consumers fanned concerns that US tariffs will sap global energy demand. Most Read from BloombergNJ College to Merge With State School After Financial StressNYC Congestion Pricing Toll Gains Support Among City ResidentsWhere New York City's Zoning Reform Will Add HousingBuffalo’s Billion-Dollar Freeway Fix Is on Ice, But Not Because of TrumpInside the ‘Not Architecture’ of High Line Designer

Shares of Beacon Roofing Supply surged almost 7% amid a market sell-off Monday on news the company was in discussions with technology solutions company QXO to be acquired for $11 billion.

Palantir was one of the worst-performing stocks in the S&P 500 Monday, as shares extended losses since hitting an all-time high last month.

As of midday, the S&P 500 was down 2%, while the Nasdaq 100 was down more than 3%.

Bitcoin tumbled below $79,000 on Monday, extending its Sunday decline as fears of a recession loom.