Tag Archives: Rout

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 Tuesday, May 17, 2022 Today’s newsletter is by Emily McCormick, a reporter for Yahoo Finance. Follow her on Twitter Stocks have had a rough start to 2022. The S&P 500 has tumbled about 16% so far this year to come within striking distance of a bear market. The Nasdaq Composite has plunged an even more pronounced 25%. And even the Dow Jones… Source link

Bitcoin continues to fall, extending its losses from the past week. The largest cryptocurrency by market value dropped 4% in the last 24 hours, according to CoinGecko, breaching a key support level and hitting a daily low of $34,406. It’s currently trading at around $34,519, down 9% in the last seven days and down 40% year to date. Ether, the second-largest, is also in the red, down 6% in the last day and down 7.4% in the last week. Overall, the cryptocurrency market is taking a hit, down 4.2%… Source link

U.S. stock futures opened mixed Tuesday evening after the major equity indexes slid during the regular trading day, as concerns over inflation and global economic growth stirred up further volatility across risk assets. Contracts on the S&P 500 dipped. The index dropped 2.8% on Tuesday for its largest decline in seven weeks, with technology shares especially slammed. The Nasdaq Composite sank 4% to fall to 12,490.74 — its lowest level since December 2020. With just three trading days left… Source link

(Bloomberg) — Stocks in Europe climbed along with U.S. equity futures on Monday as negotiators from Russia and Ukraine prepare for a new round of talks. A global bond rout deepened, with the five-year Treasury yield cresting 2% for the first time since 2019. Most Read from Bloomberg The Stoxx Europe 600 index jumped more than 1%, with carmakers leading the advance following a “confident” outlook from Volkswagen AG. Basic-resources and energy stocks fell as crude oil declined along with… Source link

Bitcoin (BTC-USD) plunged by over 10% to below $40,000 on Friday, with the rest of the cryptocurrency market following suit as risk aversion created a downdraft for markets, ahead of the Federal Reserve’s widely telegraphed plans to raise interest rates. With Russia’s move to ban crypto assets lighting the fuse of the latest plunge, Bitcoin’s price moves have become closely linked to technology shares, which have slumped on rate hike fears. On Friday, the Nasdaq tumbled deeper into… Source link

Starting in 2022, the Internal Revenue Service (IRS) is expected to shut down a longtime tax loophole that allows cryptocurrency investors to harvest their losses to offset their tax burden.  Digital coins, already under heavy selling pressure as the holidays approach, are getting hit by wealthy investors fearing a tighter tax regime next year. The shrinking loophole could be making matters worse. Following a “relief rally” after the Federal Reserve’s policy decision, cryptocurrencies have… Source link

ATLANTA – The ball buzzed nearly 60 yards in the air, a perfect parabola from Alabama’s Bryce Young that hummed through the dread of Mercedes-Benz Stadium. All afternoon long, Georgia fans partied toward a coronation here, as they entered the game 12-0, boasting a generational defense and championship thirst. Georgia supporters dominated the tailgates, distinctly outnumbered Alabama fans in the stands and saw the SEC title game as the first step toward winning the school’s first… Source link

Don’t back up the truck just yet on stocks even in the wake of Friday’s brutal Omicron variant fueled sell-off, warns one long-time strategist. “I just don’t think we hit the level on the S&P 500 where I am willing to say this is a screaming buying opportunity right now,” said iCapital Network chief investment strategist Anastasia Amoroso on Yahoo Finance Live. “We don’t see that from the oversold technical levels and also we have another potentially negative catalyst here which is the… Source link

(Bloomberg) — Snap Inc. posted its biggest one-day drop on record after the Snapchat parent company warned that Apple Inc.’s data collection rules and global supply-chain bottlenecks are weighing on advertising spending. Most Read from Bloomberg The stock tumbled 27%, wiping out about $32 billion of a market value that now sits around $89 billion. The cautious outlook cast a shadow over ad-dependent peers, including Google-owner Alphabet Inc., Facebook Inc., Twitter Inc. and Pinterest Inc.,… Source link

Stock futures opened slightly higher Monday evening after a technology-led drawdown during the regular trading day, with a rotation away from growth names picking up steam as concerns over inflation lingered.  Contracts on the Nasdaq edged up after the index dropped more than 2% Monday afternoon. Shares of technology heavyweight Facebook (FB) steadied in late trading after shedding nearly 5% earlier, with an hours-long platform outage adding to a string of negative coverage raising further… Source link