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A historically strong month for stocks is beginning on the wrong foot, with crypto leading the charge lower. Bitcoin fell more than 5% to dip back below $90,000 , a key level watched by traders. Stocks followed, with futures signaling a lower open . Contracts tied to the Dow Jones Industrial Average were down more than 200 points, while those linked to the S & P 500 and Nasdaq-100 lost 0.7% and 0.9%, respectively. Other indicators also point to a decidedly risk-off start to December. Gold futures rose about 1% to nearly $4,300 per ounce. The precious metal is often seen as a safe haven in turbulent market times. The Cboe Volatility Index (VIX) , also known as Wall Street’s “fear gauge”, rose to about 18. BTC.CM= @SP.1 5D mountain Bitcoin and S & P 500 futures 5-day chart “What’s happening this morning – stocks are kicking off the final month of the year under a bit of pressure as crypto takes a dive (bitcoin prices are slumping nearly 5% so far this morning), the [Bank of Japan] drops further hints about a rate hike later in the month, and China’s PMIs underwhelm expectations,” wrote Adam Crisafulli of Vital Knowledge. Such volatility isn’t new to traders, coming off a roller coaster November. The S & P 500 eked out a small gain for the month, but was under pressure much of the time as lofty artificial intelligence valuations held the broader market in check. That said, Wall Street regained some of its mojo last week with a strong performance to close out November trading. The S & P 500 jumped 3.7% last week — its biggest weekly advance since May. Seasonal factors are also on Wall Street’s side. According to the Stock Trader’s Almanac, the S & P 500 averages an advance of more than 1% in December, making it the third-best month of the year, based on data going back to 1950.