A Chinese brokerage firm that saw its share price rocket more than 80% in June warned investors of trading risks, adding there’s little change in the company’s business environment. Everbright Securities Co. said in an exchange filing on Wednesday that traders should be “rational and prudent” as the valuation of its stock has risen above […]
Fears about a possible recession have pounded stock markets around the world amid reports that US Federal Reserve could raise interest rates by as much as 0.75% this week – its biggest single hike in borrowing costs for nearly 30 years. As Wall Street’s benchmark S&P 500 index fell almost 4% on Monday into bear […]
Having once lost $6 billion at the height of the dotcom bubble, software entrepreneur Michael Saylor is no stranger to volatility in the financial markets. In 1999, MicroStrategy, Saylor’s software firm, admitted to overstating its revenues and erroneously reporting a profit when it actually made a loss. The fiasco shaved over $11 billion off MicroStrategy’s […]
A meltdown across equity and cryptocurrency markets has dragged the flagship ETF for Cathie Wood’s ARK Invest closer to pandemic-era lows. The ARK Innovation ETF (ARKK) fell 8.8% Monday to $36.58 per share, placing the investment vehicle within striking distance of its March 2020 pandemic closing low of $34.69. Earlier in the session, shares of […]
The first rule of writing about Bitcoin is: don’t write about Bitcoin. The story of the world’s best known cryptocurrency is astonishingly fast-moving and its fans will soon line up to tell you you’ve got it all wrong. But write about it we must, because the past 24 hours have been catastrophic for the grande […]
Bitcoin’s (BTC) month-long choppy price action came to an end on June 13 after a deep market sell-off pressed the top cryptocurrency under the $29,000 support. The move took place as equities markets also sold off sharply, hitting their lowest levels of the year. Data from Cointelegraph Markets Pro and TradingView shows that the Bitcoin sell-off began late in the day […]
SINGAPORE — Shares in Asia-Pacific fell in Tuesday morning trade after the S&P 500 fell overnight and closed in bear market territory. The Nikkei 225 in Japan fell 2% as shares of conglomerate SoftBank Group declined more than 3%, while the Topix index declined 1.55%. In Hong Kong, the Hang Seng index slipped 0.98% in […]
Crypto-related stocks cratered early Monday as a broader sell-off in Bitcoin (BTC-USD), Ethereum (ETH-USD) and other cryptocurrencies accelerated, spilling over into crypto-related stocks. MicroStrategy (MSTR) led losses, wiping out roughly a quarter of its market cap in early trading – its biggest drop since 2017. The company has accumulated a large bitcoin holding in recent […]
Overview: The prospect of a more aggressive Federal Reserve policy has spurred a sharp sell-off in global equities and bonds and sent the dollar sharply higher. The large Asia Pacific bourses were off mostly 2%-4%. Europe’s Stoxx 600 is off 2.2%, its fifth consecutive losing session. US futures are off also. The NASDAQ was down 3.5% […]
Bitcoin (BTC) saw further losses on June 12 as thin weekend trading volumes fueled an ongoing sell-off. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Analyst likens risk asset ‘pump’ to 1929 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting lows of $27,150 on its sixth straight day of downside. With hours to go until the weekly close, […]
Bitcoin (BTC) dropped to two-week lows on June 11 as the week’s Wall Street trading ended with bears in control. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView U.S. inflation print proves setback Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it reached $28,528 on Bitstamp, its lowest since May 28. The pair had fallen in step with […]
Previous Nasdaq bear markets have differed significantly in both intensity and duration. It isn’t fun losing money. Unfortunately, that’s exactly what’s happening for a lot of investors these days — especially those who own once high-flying growth stocks. The Nasdaq Composite Index (^IXIC -3.52%), which includes many of those growth stocks, is currently down 24% from its high […]
