China was hoping the Winter Olympics would be a watershed moment for the digital yuan, providing a global stage on which to parade its prowess in financial innovation. Instead, geopolitical tensions, the pandemic and China’s insistence on stamping out every trace of Covid are spoiling the party, dealing a blow to one of the most ambitious digital currency projects on the planet. […]
Bitcoin (BTC) seems to be on everyone’s mind lately as the world recently witnessed the price of BTC take a rather unexpected bearish turn this month. On January 21, 2022, Bitcoin reached six-month lows, sinking below $40,000 for the first time in months. While some panicked, other industry experts pointed out that the Bitcoin network […]
Stock futures were mixed in early morning trading on Monday as investors braced for the final trading day in what could be the worst month for the S&P 500 since March 2020. Dow futures dipped 27 points. S&P 500 futures gained 0.07% and Nasdaq 100 futures advanced 0.2%. January has turned out to be a […]
The Federal Reserve isn’t ruling out raising interest rates by half of a percent instead of the typical quarter-point move if inflation remains high, Atlanta Fed President Raphael Bostic said in an interview with the Financial Times. Bostic reiterated to the news outlet his call for three quarter-point interest rate increases in 2022, starting in […]
European stocks fell sharply on Friday, wrapping up another volatile week for markets amid fears over the direction for central bank policies. The pan-European Stoxx 600 closed down by 1%, with mining stocks shedding 2.8% to lead losses as almost all sectors bar retail and travel slipped into the red. It marks the fourth consecutive […]
Bitcoin (CRYPTO:BTC) is the $720 billion behemoth in the crypto market, and has been called a lot of things, including a hedge against inflation and the future of digital currency. But I think right now the best-case scenario for Bitcoin is that it’s digital gold, or a store of value for turbulent times. Whether you’re […]
Nobel Prize-winning economist Paul Krugman has given an ominous warning about the volatile cryptocurrency market, comparing it to the subprime mortgage crisis of the late 2000s. In an opinion piece for The New York Times on Thursday, Krugman said he’s “seeing uncomfortable parallels” between crypto and the U.S. subprime crash, which brought the whole housing […]
For well over a century, the stock market has stood on a pedestal as one of the world’s greatest wealth creators. Although it may not head higher every year, the average annual return of stocks has handily outperformed other asset classes, such as bonds and commodities. But in recent years, cryptocurrencies have absolutely run circles […]
Stock Markets The large-cap benchmarks recorded gains for the week on the back of a late-week rally, and only after the major indexes corrected by more than 10% from the recent peaks. Lagging behind the large caps is the small-cap Russell 2000 Index which closed the week down by almost 20% from its November high, […]
The S&P 500 index was closing in on a correction on Friday for the fifth time this week on worries about a series of interest rate hikes to tame inflation and losses in shares of Caterpillar and Chevron. The benchmark index would have to close 10% or more below its record closing high reached on […]
The stock market’s wild gyrations this past week have been an emotional roller coaster for investors, and the ride has not come to a full stop. It feels bad right now, and strategists say it could get worse as the market tries to find a floor. Overall, there have not been many periods like this, […]
U.S. stocks rallied into the close Friday to wrap up a roller-coaster week, buoyed by rebounding technology stocks. The Dow Jones Industrial Average rose 564.69 points, or 1.7%, to 34,725.47. The blue-chip average posted its best day since Dec. 6 after being down more than 350 points at its lows. The S&P 500 added 2.4% […]
