Gold crash: markets plunge on exchange

Within a few hours, the price of gold dropped nearly $400—to $5,170 per ounce, one of the largest intraday declines in recent months. At the same time, other markets plunged: Bitcoin fell below $85,000, losing over 5% in 24 hours; Microsoft shares sharply declined by 12% within one hour, marking its worst day since 2020 and wiping out hundreds of billions of dollars in market capitalization; major U.S. stock indices continued their decline, which began the previous day. The crypto market liquidated over $361 million in positions within an hour as thousands of leveraged traders were forced to close their positions. The simultaneous drop in key assets indicates a sharp decline in investor confidence and could signal a broader correction phase.