What's happening: Five top Chinese regulators announced Monday that they had jointly summoned key companies in the iron ore, steel, copper and aluminum sectors over the weekend. He noted that prices for steel and iron had "increased parabolically" but appeared detached from "underlying supply and demand fundamentals." Chinese Vice Premier Liu He told a group of finance officials on Friday that the government would "clamp down on bitcoin mining and trading activity" as part of its goal to achieve financial stability. Another Chinese mining company, BIT.TOP, said it would no longer offer mining services for clients in mainland China. Bitcoin prices fell as much as 13% on Sunday.

Source: CNN May 24, 2021 12:11 UTC