S&P 500 shake-up: Coinbase (COIN.US) and Applovin (APP.US) fall out after premarket stock prices plummet

Coinbase (COIN.US) and Applovin (APP.US) both saw their premarket shares drop significantly, with Coinbase falling 5% and Applovin falling 6.3%, after failing to be included in the latest S&P 500 index adjustment list. DoorDash (DASH.US), TKO (TKO.US), Williams-Sonoma (WSM.US) and Expand Energy (EXE.US) will be added to the S&P 500 index, according to an announcement from S&P Dow Jones Indices. Barclays noted that Interactive Brokers, Coinbase Global, Ares Management, Robinhood Markets, LPL Financial, Blue Owl Capital and Tradeweb Markets were also viewed as potential S&P 500 candidates, in addition to the companies that were added. As crypto stocks fell broadly, Bitcoin also dropped 2.3% to $83,700, as investors took a more defensive stance amid Trump's comments in a Fox News interview that he could not rule out the possibility of a recession. The market volatility caused by the index adjustment highlights investors' sensitivity to changes in the index's composition.