The charts say stocks could have much further to fall as investors price in the three-headed monster that is elevated inflation, rising interest rates from the Federal Reserve and a potential Ukraine-Russia war. “Every facet of my work continues to suggest that this is a chart book consistent with a 20% drawdown in the S&P [500]. While ephemeral relief rallies will occur as the conflict ebbs and flows, the seeds of the current decline were planted by policy and the pandemic long before troops… Source link
Read More »Here’s why the stock market just took a nosedive
It’s far from a market in turmoil, but a day after stocks touched record highs it is a market getting drilled with some valid fears. The Dow Jones Industrial Average tanked nearly 500 points in early afternoon trading Thursday as investors showed concern that the plunge in the 10-year Treasury yield was signaling an economic growth slowdown later this year. Driving that potentially dreaded macroeconomic slowdown would be two factors, traders reasoned. First, the Delta variant of COVID-19 that… Source link
Read More »European stock markets nosedive amid fears of rising inflation
A string of corporate news also moved individual stocks in London. Photo: Dominic Lipinski/PA Images via Getty Images Stocks in Europe slumped into the red on Thursday as concerns around rising inflation resurfaced after signals from the US Federal Reserve. In London, the FTSE 100 (^FTSE) nosedived 1.9%, hovering just above the 7,000 point mark, while the CAC (^FCHI) was 2.2% down in France, and the DAX (^GDAXI) fell 1.6 % in Germany. “The FTSE 100 fell with miners and banks the principal… Source link
Read More »Dogecoin nosedive continues but supporters are undeterred
Dogecoin has soared more than 400% in the past week and by more than 5,000% since the start of the year. Dogecoin’s price continued to fall on Thursday morning, two days after supporters celebrated ‘dogeday 4/20’, but its online community of fans remain undeterred. Dogecoin (DOGE-USD) was down 16% to $0.2822 (£0.2). On Tuesday, it had hit $0.4252 and its market capitalization briefly crossed $50bn as supporters tried to push the price to between $0.69 to $1. Every dog has its day: dogecoin… Source link
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