News Summary

• Crypto majors sold off 3% to 4% and nearly $1 billion in leveraged positions were wiped out.
• u.s. airstrikes on an Iranian military site near the Strait of Hormuz reignited the conflict markets had started to price out.
• Bitcoin broke below $73,000 for the first time in months and triggered one of the largest liquidation events of the year.
• MSCI All Country World Index retreated 0.4% from a record high, a gauge of Asian shares dropped 1.7%, and futures for the S&P 500 and Nasdaq 100 pointed lower.