This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Thursday, November 10, 2022 Today’s newsletter is by Jared Blikre, a reporter focused on the markets on Yahoo Finance. Follow him on Twitter @SPYJared. Read this and more market news on the go with Yahoo Finance App. Cryptocurrency crashed on Wednesday, with most coins and tokens plummeting to multi-year lows. Bitcoin has lost one quarter of its… Source link
Read More »Germany warns of a ‘Lehman moment’ if Russia cuts off natural gas to Europe
Germany is one step closer to having to ration its gas usage as supply from Russia starts to dry up, and the country’s top economic affairs official is warning that it could lead to an even larger economic spillover effect. As of Thursday, Germany has entered the second alert level of its emergency gas plan, according to Robert Habeck, Germany’s minister for economic affairs and climate action. At this level, “security of supply is currently ensured, but the situation is tense,”… Source link
Read More »The Evergrande ‘Lehman moment’ analogy is wrong
China’s Evergrande saga is troubling, and it could definitely signal coming ruptures in China’s real estate and financial markets. But suggesting it’s a “Lehman moment” gets the magnitude wrong and distorts some important lessons form the financial crash of 2008. If anything, the giant property developer poised to default on billions in debt is a “Bear Stearns moment,” a distinction that clarifies what might be similar to the 2008 crash, and what might be different. Here’s a… Source link
Read More »