Bitcoin tumbles as crypto sell-off continues | Business and Economy News

Bitcoin tumbles as crypto sell-off continues |  Business and Economy News

The world’s largest cryptocurrency has slumped about 70 percent since its record high of $69,000 in November. Bitcoin tumbled on Wednesday to a new 18-month low, dragging smaller tokens down with it and spurring a sharp fall in crypto markets sparked by crypto lender Celsius freezing customer withdrawals. The world’s largest cryptocurrency fell as much … Read more

US S&P 500 ‘bear market’: How did it happen, what will it mean? | Financial Markets News

US S&P 500 ‘bear market’: How did it happen, what will it mean?  |  Financial Markets News

As investors grow increasingly worried about inflation and higher interest rates, Wall Street has fallen into a bear market. The US Federal Reserve bank has indicated that it will push up interest rates as it struggles to curb the highest rates of inflation the country has seen in decades. The uncertainty unleashed by Russia’s invasion … Read more

US stocks fall as Fed quagmire grips investors | Financial Markets News

US stocks fall as Fed quagmire grips investors |  Financial Markets News

The S&P 500 fell 3.5%, the Nasdaq 100 shed 5.1% while the Dow Jones Industrial Average dropped 3.1%. By Rita NazarethBloomberg Published On 5 May 2022May 5, 2022 The stock surge that followed the Federal Reserve decision proved short-lived ahead of Friday’s jobs report, with traders worried that officials could struggle to fight inflation amid … Read more

US stocks soar as Fed’s Powell quells fear of bigger hikes | Financial Markets News

US stocks soar as Fed’s Powell quells fear of bigger hikes |  Financial Markets News

The S&P 500 rose 3%, Nasdaq 100 jumped 3.4% while the Dow Jones Industrial Average gained 2.8%. By Rita NazarethBloomberg Published On 4 May 2022May 4, 2022 Stocks rallied the most since May 2020 and Treasury yields fell after Federal Reserve Chair Jerome Powell eased concern the central bank will begin on a more aggressive … Read more

Musk sells $8.5bn worth of Tesla stock days after Twitter deal | Business and Economy News

Musk sells .5bn worth of Tesla stock days after Twitter deal |  Business and Economy News

The Tesla CEO offloaded 9.4 million shares this week, according to regulatory filings. Elon Musk disclosed an additional $4.5 billion worth of Tesla Inc. stock sales in new regulatory filings Friday, bringing the total he’s disposed of in the wake of his deal to buy Twitter Inc. to more than $8.5 billion. Tesla’s chief executive … Read more

Boom to gloom: Cathie Wood’s Ark headed for its worst-ever month | Financial Markets News

Boom to gloom: Cathie Wood’s Ark headed for its worst-ever month |  Financial Markets News

It has been a dramatic change in fortunes for Wood, whose stock selections surged at the height of the pandemic. By Thyagaraju Adinarayan and Sam PotterBloomberg Published On 29 Apr 202229 Apr 2022 Cathie Wood’s flagship ARK Innovation fund is headed for its worst-ever month as April goes from bad to worse for the one-time … Read more

Amazon’s biggest drop since 2006 caps dismal month for tech | Technology News

Amazon’s biggest drop since 2006 caps dismal month for tech |  Technology News

April has been a miserable month for tech, with Apple, Microsoft, Amazon, Alphabet, and Tesla set to lose a combined trillion dollars. By Ryan VlastelicaBloomberg Published On 29 Apr 202229 Apr 2022 Amazon.com Inc. shares collapsed on Friday, with a loss in market value that ranks as one of the worst in Wall Street history … Read more

‘Colossal uncertainty’: Russia surprises with bigger rate cut | Business and Economy News

‘Colossal uncertainty’: Russia surprises with bigger rate cut |  Business and Economy News

Russia’s central bank cut interest rates more than forecast and indicated that borrowing costs may fall even lower, as priorities shift to supporting an economy derailed by international sanctions over the invasion of Ukraine. Three weeks after reversing part of the emergency hike delivered after the attack, the Bank of Russia again lowered its benchmark … Read more

US stocks sink to their lowest in 6 weeks; Nasdaq drops 3.9% | Financial Markets News

US stocks sink to their lowest in 6 weeks;  Nasdaq drops 3.9% |  Financial Markets News

The rout continued after the closing bell after results from Alphabet and Microsoft disappointed. By Vildana Hajric and Isabelle LeeBloomberg Published On 26 Apr 202226 Apr 2022 US stocks sank to the lowest in six weeks as doubts emerged that corporate profits can withstand the Federal Reserve stepping up its battle to tame runaway inflation. … Read more

US stocks drop in dramatic reversal of rally earlier in the day | Financial Markets News

US stocks drop in dramatic reversal of rally earlier in the day |  Financial Markets News

Traders are bracing for the possibility of more aggressive policy tightening by the United States Federal Reserve. By Stephen Kirkland and Vildana HajricBloomberg Published On 21 Apr 202221 Apr 2022 US stocks slide as the selloff in Treasuries summarized, with traders bracing for the possibility of more aggressive policy tightening by the Federal Reserve. The … Read more