HUT - Hot Stocks: Crypto stocks fall; GM hits low; TUFN soars on takeover deal; ABBV sets high; ULCC falls

Stocks fell on Wednesday amid ongoing concerns that the Federal Reserve will rachet up its tightening of monetary policy even faster than previously thought. The Nasdaq led the retreat with its second consecutive decline of more than 2%, recording its lowest close in two weeks. The S&P 500 also hit a two-week low. The sell-off hit cryptocurrency-related stocks particularly hard. With assets like Bitcoin (BTC-USD) and Ethereum (ETH-USD) falling, Coinbase (COIN), Riot Blockchain (RIOT), Marathon Digital (MARA) and Hut 8 Mining (HUT) all pushed lower. The overall market weakness also dragged down shares of General Motors (NYSE:GM), which extended its recent slide to reach a new 52-week low. Frontier (ULCC) was another notable decliner on the day. Shares of the airline lost ground after JetBlue (JBLU) stepped into its merger deal with Spirit Airlines (SAVE) with a higher bid.  M&A activity had the opposite impact on Tufin Software Technologies (TUFN).

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Hot Stocks: Crypto stocks fall; GM hits low; TUFN soars on takeover deal; ABBV sets high; ULCC falls