Financial markets LIVE: UK panic over Ukraine war and US interest rates – shares plummet | City & Business | Finance


Bitcoin has also tumbled to its lowest level in six months amid fears of a Russian attack on Ukraine. 

The largest cryptocurrency was last down 5.4 percent at $34,310 after earlier dropping to $32,951, its lowest price since July 23, taking losses from its all-time high of $69,000 hit in November past 50 percent.

More than $400 million in crypto assets has been liquidated in the past 24 hours, according to data from Coinglass,  with Bitcoin trades accounting for $141 million of that total.

Mark Elenowitz, president of Horizon, a firm that services securities exchanges said: “Bitcoin will face headwinds going back up until the macroeconomic conditions change.

“Generally speaking, when rates are hiked, we could see more sell-offs of seemingly risk-on assets like bitcoin.”

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