STOCKS FALL, BITCOIN GOES INSANE: Here's What You Need To Know

At one point in the morning, we saw Dow 16,000 and S&P 1,800. But that rally was short-lived.

First, the scoreboard:

• Dow: 15,975.4, +13.7, +0.0%
• S&P 500: 1,791.5, -6.6, -0.3%
• NASDAQ: 3,949.0, -36.9, -0.9%

And now the top stories:

• Stocks hit new all-time intraday highs today before retreating.
• However, Bitcoin really stole the show today, exploding all the way to around $675, up from a $500 level yesterday. The U.S. Senate is hearing testimonies about the viability of such digital currencies today. "while these types of innovations may pose risks related to law enforcement and supervisory matters, there are also areas in which they may hold long-term promise, particularly if the innovations promote a faster, more secure and more efficient payment system," said Federal Reserve Chairman Ben Bernanke in a letter.
• The NAHB's homebuilder confidence index was unchanged at 54 in November from an October level that was revised down from 55. "The recent improvements in home builder sentiment have outpaced housing starts compared with past trends," noted Barclays' Cooper Howes. "As a result, we expect that a stronger rebound in construction activity would be required to push sentiment significantly above its current level."
• Shares of Tesla tanked for no obvious reason.
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