Bitcoin and other crypto assets fell Thursday following a decision by Silvergate Bank’s to liquidate. Bitcoin fell by more than 2% as Silvergate shares plunged by more than 40% at intraday lows. Coinbase, Signature Bank, and Metropolitan Bank Co. shares were also lower. Loading Something is loading. Thanks for signing up! Access your favorite topics… Continue reading Bitcoin and ether slide as industry woes spark liquidation of crypto bank Silvergate
Mark Mobius says most of his investments are in Taiwan after complaining he can’t get his money out of China
Mark Mobius is betting big on Taiwan, after warning against putting money into China. “Taiwan is now our largest allocation,” the billionaire investor told Bloomberg TV. Mobius’ focus on Taiwan is spurred by his bullish outlook on the semiconductor industry. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized… Continue reading Mark Mobius says most of his investments are in Taiwan after complaining he can’t get his money out of China
The S&P 500 could fall 20% by midyear as Powell’s hawkish testimony sets the stage for higher rates than markets were expecting, JPMorgan says
The S&P 500 could fall as far as 3,200, according to technical analysis from JPMorgan. That would represent a decline of 20% from current levels. The gloomy outlook comes after Fed Chair Jerome Powell said bigger rate hikes are possible. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized… Continue reading The S&P 500 could fall 20% by midyear as Powell’s hawkish testimony sets the stage for higher rates than markets were expecting, JPMorgan says
US stocks trade mixed as investors assess outlook for rates after Powell testimony
Jennifer Sor Andrew Kelly/Reuters Stocks traded mixed on Wednesday following Powell’s hawkish two-day testimony before Congress. The Fed Chair warned steeper rate hikes may be needed due to strong economic data. Higher interest rates could also raise the risk of recession, which is weighing on investors. Loading Something is loading. Thanks for signing up! Access… Continue reading US stocks trade mixed as investors assess outlook for rates after Powell testimony
The dollar is spiking against rival currencies as Fed boss Powell delivers tough talk on rate hikes
A key dollar benchmark reached its highest so far in 2023 on Wednesday. Investors are preparing for the Fed to ramp up the pace of interest rate hikes. The dollar has inflicted “technical damage” to some of its rivals, says one strategist. Loading Something is loading. Thanks for signing up! Access your favorite topics in… Continue reading The dollar is spiking against rival currencies as Fed boss Powell delivers tough talk on rate hikes
Google, Meta, and Snap would be the biggest winners if TikTok is banned, with shares set to rise on billions in new ad revenue, CFRA says
Some US lawmakers are working to ban TikTok. That would be a boon to Snap, Meta, and Google, CFRA says. The research firm says TikTok could make $9 billion-$10 billion in US revenue in 2024. The probability TikTok will be banned is still low but it’s gone up significantly over the last six months, the… Continue reading Google, Meta, and Snap would be the biggest winners if TikTok is banned, with shares set to rise on billions in new ad revenue, CFRA says
Housing market sentiment is nearing all-time lows as Americans fret over mortgage rates and employment outlook
US housing-market sentiment is edging back to an all-time-low, according to Fannie Mae. That’s because Americans are worried over rising mortgage rates and the unemployment outlook. Markets are expecting more interest rate hikes from the Fed, which could help keep mortgage rates elevated. Loading Something is loading. Thanks for signing up! Access your favorite topics… Continue reading Housing market sentiment is nearing all-time lows as Americans fret over mortgage rates and employment outlook
Dow drops 574 points as Fed chief Powell opens the door to steeper rate hikes
Jason Ma Federal Reserve Board Chairman Jerome Powell speaks during a news conference after a Federal Open Market Committee meeting on December 14, 2022 in Washington, DC. Alex Wong/Getty Images US stocks tumbled on Tuesday after Fed chief Jerome Powell opened the door to bigger rate hikes. Markets now see a 50-basis-point increase as likely… Continue reading Dow drops 574 points as Fed chief Powell opens the door to steeper rate hikes
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