Markets

Mike Novogratz.Bryan Bedder/Getty Images for Hudson River Park Mike Novogratz said cryptocurrencies will struggle to pull out of their sell-off if stocks keep falling. The crypto billionaire said Thursday this is a bear market, and told people to sell rallies and not buy dips. The crypto sell-off intensified Friday, as bitcoin plunged below $40,000 for… Continue reading Bitcoin billionaire Mike Novogratz says plunging crypto will have a hard time rallying until stocks find a base

US stock markets look set to mark another day of losses Friday after a brutal tech sell-off. Investors are anxiously awaiting the Fed’s policy meeting next week for details on its plan to cool inflation. Oil prices slid more than 1%, coming under considerable pressure on more gloomy market sentiment. Sign up here for our… Continue reading US stocks look set to extend decline after weak earnings hit tech-heavy Nasdaq and investors await next week’s Fed policy meet

Bitcoin has tumbled to far below November’s high of close to $69,000.Dado Ruvic/Reuters Bitcoin tumbled to below $40,000 for the first time since August, as a broad crypto sell-off intensified. Investors have dumped both cryptocurrencies and tech stocks as they prepare for the Fed to hike interest rates in 2022. Ethereum fell below $3,000 while… Continue reading Bitcoin plunges to below $40,000 for first time since August as cryptos track Wall Street’s tech rout

Lucas Jackson/Reuters US stocks fell on Thursday after early gains of nearly 2% for the Nasdaq evaporated.The Dow notched its fifth straight loss as investors continue to worry about rising rates.Jobless claims jumped to 286,000 last week, hitting its highest level since October.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.US… Continue reading US stocks give up gains as Dow notches 5-day losing streak and tech continues to weaken under rates pressure

Gary Gensler, SEC Chair.Evan Vucci/Associated Press Gary Gensler said SEC staff are looking into every way to bring crypto platforms into the regulator’s fold. Crypto exchanges could finally get direct US regulatory oversight in 2022, the SEC chair hinted Wednesday. “If the trading platforms don’t come into the regulated space, it’d be another year of… Continue reading Gary Gensler hints SEC staff are scrambling to bring crypto exchanges under its regulatory eye this year

Investors have to brace for more market volatility thanks to the new Omicron variant.Xinhua News Agency/Getty Images US futures rose on Thursday, as healthy corporate earnings helped offset some concern about the inflation outlook. Asian markets were up after China cut key lending rates, while European stocks were mixed. Netflix was due to report quarterly… Continue reading US futures rise, as strong earnings and a China rate cut help investors shrug off inflation fears for now

Michael Saylor, MicroStrategy CEO.Joe Raedle/Getty Images Michael Saylor never wants MicroStrategy to let go of its $5 billion bitcoin pile, he told Bloomberg. “Never. No. We’re not sellers,” he said. “We’re only acquiring and holding bitcoin, right? That’s our strategy.” Saylor said bitcoin’s slump doesn’t worry him, and his stash brings “great comfort” as inflation… Continue reading Bitcoin bull Michael Saylor says MicroStrategy will never sell its $5 billion crypto stash even if prices crash

Seth Klarman.Getty Images/ Scott Olson Seth Klarman warned investors about speculation and complacency in his yearly letter. The Baupost CEO listed inflation and higher interest rates among his major concerns for markets. Klarman emphasized the value of hedging and sounded the alarm on political strife in the US. Sign up here for our daily newsletter,… Continue reading Billionaire investor Seth Klarman rings the alarm on speculation, complacency, and inflation in his annual letter. Here are the 11 best quotes.