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Dow Jones Futures: Bitcoin Dives Below $50,000; Intel, Snap Key Movers After Biden Capital Gains Tax Hike Plan Hits Market Rally

Posted Date: April 23 2021
Dow Jones futures rose slightly Friday morning, along with S&P 500 futures and Nasdaq futures, while the Bitcoin price plunged below $50,000 overnight. Intel stock, Snap (SNAP) and Apple supplier Skyworks Solutions (SWKS) were key movers on news.
The stock market rally reversed lower Thursday on widespread reports that President Joe Biden will propose nearly doubling the top capital gains rate on the wealthy to 43.4%.
While the negative reversal is never good to see, the Dow Jones, S&P 500 and Nasdaq didn't suffer too much damage from the Biden capital gains tax hike plan. However, the Bitcoin price continued to retreat from record highs overnight. The cryptocurrency was paring losses Friday morning, moving back above $50,000.

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