U.S. stocks came under pressure again in Friday’s volatile session amid worries about tighter monetary policy and the ongoing pandemic, leading to a losing week for the major averages. The Dow Jones Industrial Average dropped 532.20 points, or 1.5%, to 35,365.44. The S&P 500 fell 1% for a second down day to 4,620.64. The tech-heavy […]
The future of bitcoin is anyone’s guess, but one academic has warned that the world’s most popular cryptocurrency could fade out in the near future. Eswar Prasad, senior professor of international trade policy at Cornell University, told CNBC’s “Squawk Box Europe” earlier this month: “Bitcoin itself may not last that much longer.” Bitcoin’s price has […]
Some analysts claim bitcoin (BTC) is impervious to shocks that affect global finance; it’s a hedge against things like inflation, they claim, and a sure bet against tides of uncertainty. Not so, says the media. There are countless news articles showing bitcoin is affected by exogenous market shocks plus other things that don’t touch conventional financial products, such […]
China’s buy now pay later market is set to grow — but the industry is still at a nascent stage, and challenges lie ahead, experts told CNBC. There’s been a surge of interest in BNPL services in China over the last decade, said Kapil Tuli, marketing professor at the Singapore Management University’s (SMU) Lee Kong […]
The three US benchmark indices retreated from a Fed-induced rally one day after the central bank decided to double the pace on tapering bond purchase and a three-rate hikes guidance in 2022. The Dow Jones Industrial Average was down 0.09%, the S&P 500 slid 0.88%, while Nasdaq slumped 2.47%. The tech stocks returned to a […]
Circle, the company that created the USDC stablecoin, announced a partnership with public charity Endaoment to create a disaster relief fund. The fund will help mid-western American communities impacted by last week’s deadly tornadoes. The two entities hope to raise $1 million in grants to support the American Red Cross and local non-profits. Via Endaoment, blockchain enthusiasts will be able to directly […]
On Thursday, HSBC and IBM announced the successful test of an advanced token and digital wallet settlement between two central bank digital currencies, or CBDCs, in a cloud environment. The experiment consisted of transactions between CBDCs, eBonds, and forex. IBM’s Hyperledger Fabric and enterprise technology provider R3’s Corda served as the basis of the distributed ledger facilitating […]
Former U.S. Treasury Secretary Lawrence Summers warned of the risk of a “spontaneous deflating of financial markets” that have been pumped up by retail buying and exuberant investors. There is “a lot of euphoria,” Summers said at an American Council for Capital Formation webinar on Tuesday — pointing, among other things, to cryptocurrencies, so-called meme […]
The stock market moved lower again on Wednesday, showing the continued nervousness among investors in the current macroeconomic environment. As we’ve seen in recent days, the Nasdaq Composite (NASDAQINDEX:^IXIC) took a bigger hit than most other major stock indexes. As of 11:15 a.m. ET, the Nasdaq was down 105 points, or almost 0.7%. The primary […]
The Federal Reserve’s move to accelerate its taper but not yet move the needle on interest rates has left market analysts in disagreement over whether it was the right call and how it could impact stocks. Here’s what five of them told CNBC following Wednesday’s decision: Mona Mahajan, senior investment strategist at Edward Jones, expected […]
Bitcoin (BTC) sought cues from the United States Federal Reserve on Dec. 14 as markets waited anxiously for news on policy. BTC higher lows remain safe Data from Cointelegraph Markets Pro and TradingView showed BTC/USD continuing in a range around $47,000 as Wall St. opened on Dec. 15. The pair had hit local highs of $48,785 on Bitstamp overnight […]
Oil market watchers are torn between dramatically different forecasts for crude prices, even after OPEC’s upbeat forecast for crude demand in 2022. OPEC’s outlook sees the world consuming 99.13 million barrels per day of crude in the first quarter of 2022, an increase of 1.1 million barrels per day from its last forecast a month […]
