Coinbase stock price falls more than 11% amid broader market rout

The stock price for the publicly traded crypto exchange Coinbase is down nearly 12% on Thursday amid a broader tumble in US equities.

COIN is currently trading hands at about $114.70 on the Nasdaq exchange, representing a roughly 11.8% decline since Thursday's market open. 

Source: TradingView

US equities have fallen sharply since the open, with the Nasdaq down 4.9% at the time of writing. The Dow Jones Industrial Average and the S&P 500 are down 3.1% and 3.6%, respectively. 

Coinbase went public in mid-April of last year via a direct listing.