Coinbase Shares Drop 12% as U.S. Stocks Close Lower Across the Board

U.S. stocks ended Friday lower, with Coinbase shares falling 12.01% as all three major indexes and several technology and crypto-linked stocks posted losses. Intel and SanDisk shares fell even more sharply.

Intel dropped 29.48%, while SanDisk lost 13.79%. Advanced Micro Devices (AMD) fell 11.24%; Circle declined 9.50%, and SKHY was down 8.15%. Coinbase’s 12.01% decline was steeper than the drops in AMD, Circle and SKHY, but smaller than the losses in Intel and SanDisk.

The Dow Jones Industrial Average’s intraday decline reached 1.09%, while the Nasdaq Composite fell as much as 2.29% and the S&P 500 as much as 1.21%. All three indexes closed lower. The losses spanned broad market benchmarks, chipmakers and crypto-linked Coinbase, though the declines varied widely by stock.