Stock Markets Stocks ended sharply lower for the second consecutive week on fears that the economy will experience a hard landing due to the Federal Reserve’s most aggressive rate hike since 1994. The week began with a sell-off that left every stock in the S&P 500 down at one point, a phenomenon that has not […]
The major stock market indexes are all in the green on this last trading day before a long holiday weekend. Indexes are near the day’s highs in the last hour of trading. The Nasdaq composite leads the day, up 1.9% from strength in big tech stocks. The S&P 500 is up 0.9% and the Dow […]
Bitcoin (BTC) survived another night without breaking $20,000 on June 17 as $14,000 cemented itself as a likely bottom level. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader plans to go “all in” on BTC at $14,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dipping to $20,220 on Bitstamp overnight before rebounding up to $1,200 higher. The […]
When it comes to bear markets, investors can take comfort from history, which suggests that where there’s a beginning, there’s always an end. And according to Bank of America, investors have only got a few bear-market months left to endure after the U.S. benchmark S&P 500 SPX, +0.22% tumbled into bear territory at the start of this week. And […]
This week has revealed to the average investor just how interconnected cryptocurrency firms are. Two firms have frozen withdrawals, and a cryptocurrency hedge fund is in trouble. Celsius Network, Babel Finance, and Three Arrows Capital are floundering, and it’s not yet clear how extensive the damage may be. This week started with a Sunday night […]
U.S. stocks sank Thursday as investors weighed the potential economic costs of the Federal Reserve’s ongoing fight with inflation. The S&P 500 fell by 3.25% to 3,666.77, its lowest level since Dec. 2020. It also erased gains after rising 1.5% on Wednesday. The Nasdaq Composite plunged by more than 4%, bringing the index down by more […]
The “bloodbath” in the cryptocurrency sector may claim another victim, with the co-founder of multibillion dollar hedge fund Three Arrows Capital using Twitter in an attempt to battle rumours that the company is insolvent following the market collapse. With a net asset value of $18bn (£14.9bn) in its last public statement, the Singapore-based hedge fund […]
The U.S. stock market rout that has put U.S. equities in a bear market isn’t just reducing the net worth of billionaires like Elon Musk and Jeff Bezos. It’s also taking a toll on Americans’ retirement savings, wiping out trillions of dollars in value. The selloff has erased nearly $3 trillion from U.S. retirement accounts, […]
Crypto’s June swoon has shaken the confidence of even the most ardent bulls. But many pros that watch and trade the sector aren’t yet thinking about a longer-term demise for digital assets in the face of such stark price declines. “You are seeing a lot of the leverage that was built up around crypto come […]
The sell-off in cryptocurrencies deepened even further on Wednesday, with bitcoin sinking very close to the key level of $20,000. Bitcoin plunged as much as 10% to an intraday low of $20,166, according to Coinbase data. It was last trading at $21,544.37, down about 2.6%, around 4:24 p.m. ET. The world’s largest digital currency has […]
Chairman of the United Sates House of Representatives Ways and Means Committee Richard Neal sent a letter to the Government Accountability Office (GAO), a legislative branch watchdog, asking the agency to weigh in on the use of cryptocurrency in retirement plans. Defined contribution plans, such as the 401(k), are increasingly allowing savers to incorporate cryptocurrency […]
The European Central Bank is holding an emergency monetary policy meeting Wednesday, after bond yields surged in recent days for many governments across the euro zone. “They will have an ad hoc meeting to discuss current market conditions,” a spokesperson for the central bank told CNBC. Borrowing costs for many nations have risen sharply in […]
