Market Bizzz

Grayscale’s ETF notched a daily record of $642.5 million in outflows on Monday, according to data from BitMEX Research, when bitcoin tumbled about 4%. The cryptocurrency was down another 2% by mid-afternoon Tuesday, bouncing off session lows.

In a surf town in El Salvador nicknamed “Bitcoin Beach,” shopkeeper Maria Aguirre watched with delight as the cryptocurrency — and her investment in it — recently soared to new all-time highs. But not everyone in El Salvador is convinced by the cryptocurrency.

Inflation was slowing more than expected, complicating the central bank’s plan to end negative interest rates by March or April and then follow quickly with further increases

Many semiconductor-related shares had outsized losses, after Nvidia’s annual developer conference failed to provide fresh momentum for the global artificial intelligence-centred chip stock rally.

BYD, which overtook Tesla last year as the world’s No. 1 electric vehicle manufacturer, will use Nvidia’s next generation of in-vehicle chips, called Drive Thor, to enable increased levels of autonomous driving and other digital functions, Nvidia said.