The Organisation of Petroleum Exporting Countries and its partners in OPEC+ led by Russia decided this week they would not increase their target production figure for next month. Effectively, OPEC+ slapped the EU in the face, as this decision means no additional oil is coming to Europe to replace sanctioned Russian barrels. The European Commission […]
Stocks lost ground in choppy trading on Friday as investors struggled to find a floor after a dramatic week that saw the Dow Jones Industrial Average post both its best and worst days since 2020. The S&P 500 shed 0.57% to close at 4,123.34, while the Nasdaq Composite fell 1.40% to settle at 12,144.66. The […]
The Fed may no longer be a friend of investors, pros say, and that could be a major headwind to stocks in the near-term. “What’s dangerous about yesterday’s huge market slump is that there must be an element of doubting the ability of there to be an effective ‘Fed Put’ in this cycle following a […]
Stock markets are set for more heavy selling this summer as central banks around the world ramp up interest rates to try to combat spiraling inflation, according to one economist. Brunello Rosa, who is CEO and head of research at Rosa & Roubini, a consultancy he co-founded alongside well-known market bear Nouriel Roubini, believes there […]
Bitcoin continued its slide this week, falling losing nearly 9% on Thursday and Friday amid a broader selloff in financial markets. The cryptocurrency traded Friday at just under $36,000 and is down 18% over the last month, according to Coinbase. Other major digital currencies have also pulled back sharply. Here’s what experts say is weighing on […]
Nvidia will pay $5.5 million as part of a settlement with the SEC that it did not properly inform investors about how cryptocurrency miners were stoking demand for its graphics cards. Nvidia failed to disclose how cryptocurrency mining drove growth in the second and third fiscal quarters of 2018, which took place in 2017, the […]
Stock Markets Amid extreme volatility, benchmark indexes absorbed their fifth straight week of losses, borne down by the twin concerns of rising inflation and interest rates. Growth stocks in particular took the brunt of the price declines. The Dow Jones Industrial Average (DJIA) was temporarily dragged into correction territory, roughly 10% below its recent peak […]
Global financial markets plunged into disarray on May 5 as the Dow Jones saw a 1,063 point drop and Bitcoin (BTC) price plummeted to $35,571 on Binance. The widespread weakness comes as traders have had more time to digest the recent half-point interest rate hike by the Federal Reserve, the largest hike since 2000, which was done […]
The Luna Foundation Guard has acquired $1.5 billion in bitcoin to bolster the reserves of its most popular stablecoin, known as U.S. Terra. Stablecoins are cryptocurrencies that aim to peg their market value to a more stable asset. This latest transaction by the Luna Foundation Guard brings it closer to its goal of accumulating $10 billion […]
Cloud companies, e-retailers and household tech names got hammered on Thursday, wiping out hundreds of billions of dollars in market value and pushing the Nasdaq Composite to its worst one-day plunge since June 2020. A day after the Federal Reserve raised its benchmark interest rate by a half point in a bid to stem rising […]
So much for the Federal Reserve being the friend of the stock market. The Dow Jones Industrial Average plunged 1,000 points on Thursday as traders reassessed what Fed Chair Jerome Powell said at his post-decision press conference yesterday. A perception of a less hawkish Powell was embraced by the markets on Wednesday afternoon. The Dow […]
The price of bitcoin climbed about 6% Wednesday after the Federal Reserve raised rates by half a point —the biggest hike in about 20 years — as expected. Bitcoin began climbing ahead of the end of the Federal Open Market Committee’s meeting. The half-point hike was widely expected by many. Its surge accelerated after Fed […]
