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Tech Down As Bitcoin Selloff Weighs On Sector -- Tech Roundup

04/19/2021 | 02:56pm EDT

Shares of technology companies fell as a selloff of cryptocurrencies and related stocks rippled through the sector.

Shares of cryptocurrency exchange Coinbase fell sharply after a plunge in the value of some digital currencies. Among other stocks associated with bitcoin, shares of Overstock.com fell sharply.

The U.K. government is starting a national-security review of Nvidia's $40 billion deal to buy British chip designer Arm from SoftBank Group, raising a new hurdle for an industry-reshaping proposal facing significant regulatory scrutiny around the world.

Shares of electric-car maker Tesla tumbled after reports that U.S. safety officials were investigating a fatal weekend crash involving a Model S sedan, which was operating without anyone in the driver's seat when it crashed into a tree Saturday night north of Houston, killing two men. Tesla also faced a public-relations issue in China, where viral footage showed a woman who had made a disputed claim about the company's brake safety being dragged away from a trade-show display.

China's Meituan is raising as much as $10 billion from investors, hoping that it will be able to gain an edge on its e-commerce rivals by spending heavily on technology allowing it to deliver goods using drones and self-driving cars.

 Write to Rob Curran at rob.curran@dowjones.com 

(END) Dow Jones Newswires

04-19-21 1656ET

Stocks mentioned in the article
ChangeLast1st jan.
BITCOIN - EURO 0.99% 36787.74 Real-time Quote.54.35%
BITCOIN - UNITED STATES DOLLAR 0.91% 43091.07 Real-time Quote.47.86%
COINBASE GLOBAL, INC. -2.39% 231.82 Delayed Quote.0.00%
DJ INDUSTRIAL 0.10% 34798 Delayed Quote.13.59%
MEITUAN 0.82% 244.6 End-of-day quote.-16.97%
SOFTBANK GROUP CORP. 2.76% 6627 End-of-day quote.-17.76%
TESLA, INC. 2.75% 774.39 Delayed Quote.9.74%
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