The end of the first week in June brought more pain to global financial markets as the tech-heavy Nasdaq composite closed the day on June 3 down 2.3%, while the S&P 500 shed 1.4% of its value. The cryptocurrency market hasn’t faired any better and data from Cointelegraph Markets Pro and TradingView shows that an early morning attempt to push […]
The stock market may try to regain its footing in the next few sessions, even as a fresh inflation report looms large at the end of the week. Stocks struggled to move forward in the past week. With Friday’s sell-off, the major indexes closed out the four-day period with losses. That was disappointing to investors […]
Cloud stocks rallied on Thursday, with more than a dozen vendors notching gains of 10% or more, as investors used an upbeat day on Wall Street to snap up shares of companies that have been beaten down the most in this year’s selloff. UiPath, a provider of software for automating office tasks, led the charge, surging 17%. […]
Stocks may have stabilized after the mid-May rout, but warning signs are mounting that the economy is entering a rough patch and markets could slip back into sell mode. Here are three red flags tossed on the plates of investors this week: Whales Whining When JPMorgan (JPM) CEO Jamie Dimon speaks, it’s often wise for […]
Several cryptocurrency industry players have told CNBC that thousands of digital tokens are likely to collapse while the number of blockchains in existence will also fall over the coming years. There are more than 19,000 cryptocurrencies in existence and dozens of blockchain platforms that exist. A blockchain platform, such as Ethereum, is the underlying technology […]
Cryptocurrency companies dominated the main street at the World Economic Forum in Davos this year, a notable difference between this edition and the last one in 2020. The high-profile presence from the industry came even as the cryptocurrency market crashed. It was sparked by the collapse of the so-called algorithmic stablecoin called terraUSD or UST, which saw its sister […]
Following an early morning vote in Albany on Friday, lawmakers in New York passed a bill to ban certain bitcoin mining operations that run on carbon-based power sources. The measure now heads to the desk of Governor Kathy Hochul, who could sign it into law or veto it. If Hochul signs the bill, it would […]
Shares of S&P Global (SPGI) fell as much as 7.9% pre-market on Wednesday after the company warned of an “extraordinarily” weak bond market and suspended its full year forecast. “Macroeconomic conditions have deteriorated since S&P Global last provided financial guidance on May 3, 2022, negatively impacting the Company’s expectations for GDP growth and debt issuance […]
Solana, one of the largest cryptocurrencies after bitcoin and ether, fell more than 12% on Wednesday as its blockchain suffered its second outage in the last month. Validators in the network were not processing new blocks for several hours. Applications built on Solana’s blockchain were taken offline as a result. The Twitter account Solana Status […]
JPMorgan CEO Jamie Dimon has warned that an economic “hurricane” is coming. “You better brace yourself,” he advised. “We just don’t know if it’s a minor one or Superstorm Sandy.” Jamie Dimon on the U.S. Economy and QT The CEO of JPMorgan & Chase, Jamie Dimon, warned about an incoming economic hurricane Wednesday at a […]
Turkey announced on Wednesday it had raised natural gas and power prices, a move that its energy importer blamed on a “perfect storm” in global markets amid soaring energy costs. Petroleum Pipeline Corporation (BOTAŞ) said it had raised gas prices for households, industry and electricity production. The price for households was raised by 30%, BOTAŞ […]
Talk of a recession is heating up, with Wall Street veterans flagging the rising risks of a downturn — and offering advice on how to invest during this cycle. Investment bank Morgan Stanley said that while a recession isn’t its base case, it is its bear case because the risk of one has “gone up […]
