Bitcoin price today falls under $45,000

Cryptocurrency prices slumped as a broad selloff sparked by worries about contagion from China Evergrande Group swept through global markets.

Bitcoin dropped 7.3% to $44,127 as of 7:33 a.m. in New York, reaching the lowest level in a week. Other digital assets also retreated, with Bitcoin Cash, EOS and Ether all declining.

The losses mirrored the action in the broader market as investors weighed the risks coming from Evergrande’s debt woes and this week’s Federal Reserve meeting. U.S. equity futures pointed to losses at the open and the Stoxx Europe 600 index dropped as much as 2%, on track for the biggest decline since July.