Investors unnerved by the financial strains of a Chinese real estate firm sent cryptocurrencies reeling on Monday, with bitcoin (BTC-USD) tumbling by more than 7%. As risk-sensitive assets plunged, the leading digital coin shed over $3,000, changing hands just below $44,000 in midday trading. The moves were the latest signal that the world’s largest cryptocurrency hasn’t achieved the “safe haven” asset status that some of its more ardent proponents have promoted, even as debt levels… Source link

The biggest fear investors should have with the crisis gripping overly indebted Chinese real estate developer Evergrande is global contagion, argues Goldman Sachs.  “The danger is precisely the contagion effect, should a default occur without clear ‘ring-fencing’ of spillovers to other parts of the real economy or financial sector. Events over the past week suggest risks of inching toward that direction,” said Goldman Sachs Hui Shan in a research note on Monday.  Shan points out that he is… Source link

Moscow/New York, September 20, 2021. Yandex announces the spin off of ClickHouse, Inc., a pioneering company focused on open-source column-oriented database management systems (DBMS) for analytical processing. Created in partnership with Benchmark Capital and Index Ventures, ClickHouse will develop commercial products, such as a cloud-based version of DBMS and other solutions for large businesses based on the company’s open-source code. Benchmark Capital… Source link

The financial crisis gripping major Chinese property developer Evergrande has triggered a sharp turn in broader stock market sentiment, as seen by the S&P 500 dropping below its key 50-day moving average.  With news of the Evergrande debacle gaining steam last Friday, the S&P 500 closed the session below the 50-day moving average for the first time since June. The tenuous situation of Evergrande — which includes potential missed debt repayments — gained steam over the weekend and caused… Source link

In a recent LinkedIn ranking of the top 20 cities for remote work, Cape Coral, Fla., Charleston, S.C., Tampa Bay area, Fla., Jacksonville, Fla., and Orlando, Fla., took the top 5 spots among major metros. Among smaller cities with a population below 100,000, Bend, Ore., Asheville, N.C., Wilmington, Del., Johnson City, Tenn., and Eugene, Ore., ranked highest. New York and San Francisco, accustomed to being job seeker hotspots, came in last. LinkedIn analyzed more than 49 million remote job… Source link

will soon make it easier for you to see all of your co-workers or friends properly on video calls. The web version of the app can detect when someone is underexposed due to bad lighting. Meet will then increase the brightness so it’s easier to see your cohorts and perhaps make your feed clearer if you have a terrible webcam. The low-light mode hit the Google Meet iOS and Android mobile apps . It uses AI to examine light levels and tweak the brightness. There’s… Source link

(Corrects to remove extraneous text in headline) * Energy, bank stocks lead market declines * All eyes on Fed’s policy meeting later this week * Major airlines gain as U.S. relaxes travel rules * Indexes down: Dow 1.92%, S&P 2.04%, Nasdaq 2.53% By Devik Jain Sept 20 (Reuters) – Wall Street’s main indexes tumbled on Monday, as concerns about the pace of a global recovery spurred a selloff across sectors at the start of a week in which the Federal Reserve will decide on potentially tapering its… Source link

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.)    * Energy, bank stocks lead market declines    * All eyes on Fed’s policy meeting later this week    * Indexes down: Dow 1.34%, S&P 1.35%, Nasdaq 1.63% (Updates to open; changes quote)    By Devik Jain    Sept 20 (Reuters) – Wall Street’s main indexes tumbled on Monday, as concerns about the pace of a global recovery hit economy-linked stocks at the start of a week in… Source link

Stocks plunged on Monday, with major indices tumbling by over 1% at the opening bell, as investors nervously eyed the potential ripple effects of the default of a major Chinese real estate company, as well as ongoing debates over the debt limit in Washington.  After defying gravity for most of the summer, September is shaping up to be a tough month for markets, with major benchmarks in retreat for three consecutive weeks. At Wall Street’s opening bell, the Dow sank by more than 500 points,… Source link

Shares of crypto-related stocks, including Marathon Digital Holdings Inc (NASDAQ: MARA) Riot Blockchain Inc and Coinbase Global, Inc. (NASDAQ: COIN) are trading lower amid a decrease in the price of Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH). Bitcoin is trading 4.3% lower at around $43,500 Monday morning. Ethereum is trading 4.8% lower at around $3,030 Tuesday morning. Marathon Digital focuses on mining digital assets. It owns crypto-currency mining machines and a data center to mine… Source link