US stocks tumble as renewed tech selloff puts pressure on crypto markets

US stocks came under renewed selling pressure on Friday, November 13, as weakness in AI and semiconductor shares weighed on Wall Street.
The S&P 500 fell around 1.1% by late morning in New York, while the Nasdaq Composite declined approximately 1.9%, with technology stocks leading the losses.
Nvidia $NVDA, Broadcom $AVGO and AMD $AMD were among the major decliners as investors continued to question whether enormous AI infrastructure investments can generate sufficient returns.
The selloff has also weighed on cryptocurrency markets. Bitcoin $BTC slipped below $70,000 as rising Treasury yields, a stronger dollar and expectations of further Federal Reserve tightening reduced appetite for risk.
Social media reports estimated that roughly $1 trillion in US equity market value was erased within 30 minutes. However, that figure has not been independently confirmed.
The broader weakness illustrates how closely cryptocurrency sentiment remains connected to movements in US technology stocks, particularly during periods of heavy selling and leveraged liquidations.