According to @ReutersBiz, Wall Street closed lower after mixed earnings and a disappointing Netflix result dampened risk sentiment as investors assessed reports that the Trump administration is considering curbs on exports to China made with US software, reducing appetite for risk assets (source: Reuters Business). The IMF has documented that equity risk-off episodes have increasingly coincided with declines in crypto assets since 2020 due to rising stock–crypto correlations, implying that the current risk-off tone flagged by Reuters may increase headline sensitivity in the crypto market as well (source: International Monetary Fund).