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After finishing last month on a strong note and starting December on a high, markets stumbled Monday, tripped over by the sell-off in crypto. 

All three major U.S. indexes snapped their 5-day winning streaks as bitcoin, the world's largest cryptocurrency, dropped around 6% to trade below $86,000, putting downward pressure on the stock market. 

It was bitcoin's worst day since March. The digital currency late last month fell below $90,000 for the first time since April and has since struggled to stay above that mark.

Even as odds for the Fed's expected year-end Christmas gift of a rate cut rise, investors seem to have put crypto on the "naughty list."

As we head deeper into December, could markets shake off the crypto chill, and will tech stocks be the heroes that keep pushing stocks higher? Watch this space.

Nvidia-Synopsys partnership. The company announced Monday it has purchased $2 billion of Synopsys' common stock as part of a strategic partnership to accelerate computing and AI engineering solutions.

Apple AI chief steps down. John Giannandrea, who had held the position since 2018, will be replaced by Amar Subramanya, an AI researcher who most recently worked for Microsoft and was previously part of Google's DeepMind AI unit. Giannandrea will continue to serve as an advisor until his retirement next spring, Apple said.

Crypto sell-off. Bitcoin and ether plunged on Monday, recording a 5% and 7% fall, respectively. A statement by the People's Bank of China on Saturday warning of illegal activities relating to digital currencies heaped pressure on Hong Kong-listed shares of digital assets-related companies on Monday.

Markets slide. All three U.S. indexes snapped five-day winning streaks, with the Dow Jones Industrial Average recording the largest loss, dropping 0.9%. The Nasdaq Composite shed 0.38%, and the S&P 500 lost 0.53%.

[PRO] Analysts positive on electric plane stock. Wall Street analysts are bullish on electric airplane manufacturer Beta Technologies, with Goldman Sachs, Morgan Stanley and Bank of America initiating coverage with a buy rating. Citi, which views it as a high-risk-high-reward stock, put a target price that suggests a 50% upside.

Kalshi makes move to court crypto traders with tokenized betting contracts

Bettors on exchange and prediction market Kalshi can now buy and sell tokenized versions of their wagers on Solana, the company told CNBC exclusively on Monday.

It's the latest sign the prediction market company is deepening its push to win over the same cryptocurrency holders that have pumped billions of dollars of digital assets into its rival Polymarket.

Tokenization refers to creating a digital version of a real-world financial asset such as a stock, bond or treasury note. The resulting token, which can be held or traded like a normal asset, lives on a decentralized ledger called a blockchain, such as Solana or bitcoin.

— Liz Napolitano