Luna, the sister cryptocurrency of controversial stablecoin TerraUSD, has collapsed to nearly $0. TerraUSD, or UST, has been dragged into the spotlight in the last few days after the so-called stablecoin, which is supposed to be pegged one-to-one with the U.S. dollar, fell sharply below the $1 mark. UST is an algorithmic stablecoin which uses […]
The S&P 500 has gotten crushed in a widespread sell-off this week, and the index is likely to tumble even lower before it starts to rebound, according to Bank of America analysts. In a recent analyst note, Bank of America Chief Investment Strategist Michael Hartnett said, based on historical market trends, there could be months […]
Bitcoin dropped below the $30,000 for the second time this week after new inflation data shows consumer prices remain at 40-year highs. The price of bitcoin was last down 7% at $29,135.00, according to Coin Metrics. Earlier in the day it dropped as low as $29,026.66, its weakest point since December 2020. Ether fell 10% […]
Grayscale, the asset manager running the world’s largest bitcoin fund, met privately with the Securities and Exchange Commission last week in an effort to persuade the regulator to approve the conversion of its flagship fund into an ETF, CNBC has learned. Turning the Grayscale Bitcoin Trust into a NYSE-traded ETF would broaden access to bitcoin […]
Stocks fell on Wednesday, dialing back earlier gains as investors continued to digest the latest U.S. inflation data. The Dow Jones Industrial Average fell 326.63 points to 31,834.11, or 1.02%. The S&P 500 slipped 1.65% to 3,935.18, and the Nasdaq Composite dropped 3.18% to close at 11,364.24. During the trading session, the S&P 500 touched […]
Oil giant Saudi Aramco on Wednesday surpassed Apple as the world’s most valuable firm. Aramco’s market valuation was just under $2.43 trillion on Wednesday, according to FactSet, which converted its market cap to dollars. Apple, which fell more than 5% during trading in the U.S. on Wednesday, is now worth $2.37 trillion. Energy stocks and […]
Stock futures were higher in early morning trading Wednesday ahead of a key inflation reading. Futures on the Dow Jones Industrial Average rose 79 points, or 0.25%. S&P 500 futures were 0.34% higher and Nasdaq 100 futures gained 0.71%. The moves come after the Dow fell for a fourth consecutive day Tuesday in a volatile […]
Global stocks have endured a bruising week, and a difficult year so far, but some strategists believe the recent sell-off is unlikely to pave the way for a market capitulation. The S&P 500 closed Monday’s trade down more than 16% since the beginning of the year, and almost 12% in the second quarter alone. The […]
Soaring inflation, interest rate hikes and the war in Ukraine have sparked ongoing stock market volatility. But there may be a bright spot: the chance to save money on a Roth conversion. The strategy allows higher earners to sidestep the earnings limits for Roth individual retirement account contributions, capped at $144,000 modified adjusted gross income […]
SoFi’s first-quarter earnings results were accidentally leaked ahead of schedule. First-quarter earnings results for the one-stop financial services provider SoFi Technologies (SOFI -12.06%) were accidentally leaked early today, prompting the stock to fall more than 18% before trading was halted. SoFi reported a net loss per share of $0.14 on total revenue of roughly $330.4 million. Earnings were in […]
Bitcoin is off nearly 55% from its November peak, and 40% of holders are now underwater on their investments, according to new data from Glassnode. That percentage is even higher when you isolate for the short-term holders who got skin in the game in the last six months when the price of bitcoin peaked at […]
Bitcoin (BTC) set a new record low price for 2022 on May 9 as crypto markets continued selling off prior to the Wall Street opening. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price sinks under $36,700 Data from Cointelegraph Markets Pro and TradingView confirmed the firmly bearish achievement for BTC/USD, which hit $32,637 on Bitstamp. With the latest […]
