Wall Street Hits Bear Market as Stocks and Crypto Drop
- 2 years ago
Wall Street , Hits Bear Market , as Stocks and Crypto Drop.
On June 13, Wall Street plummeted into
a bear market as the S&P 500 dropped over
20% below its record set earlier this year. .
The 'Associated Press' reports that the index fell 3.9% in early trading, while the Dow Jones Industrial Average lost 1,000 points before finishing with a loss of 876. .
The 'Associated Press' reports that the index fell 3.9% in early trading, while the Dow Jones Industrial Average lost 1,000 points before finishing with a loss of 876. .
According to 'AP,' the sell-off centers around
the Federal Reserve, which is trying to control
inflation with a series of interest rate hikes.
According to 'AP,' the sell-off centers around
the Federal Reserve, which is trying to control
inflation with a series of interest rate hikes.
As those rising interest rates raise concerns
of a potential recession, prices fell worldwide
for everything from bonds to bitcoin. .
Some of the steepest declines
were seen in technology stocks. .
Tesla fell 7.1%, Amazon lost 5.5%
and GameStop dropped 8.4%.
Tesla fell 7.1%, Amazon lost 5.5%
and GameStop dropped 8.4%.
According to Coindesk, cryptocurrencies
also suffered as Bitcoin fell
over 14% to drop below $23,400. .
The best thing people can do is to
not panic and don’t sell at the bottom,
and we’re probably not at the bottom, Randy Frederick, Managing director of trading
and derivatives at the Schwab Center for
Financial Research, via the 'Associated Press'.
The best thing people can do is to
not panic and don’t sell at the bottom,
and we’re probably not at the bottom, Randy Frederick, Managing director of trading
and derivatives at the Schwab Center for
Financial Research, via the 'Associated Press'.
Some economists have speculated
that the Fed may raise its key
rates again on June 15.
The rumored mega-hike would see key interest
rates rise by three-quarters of a percentage point,
the largest rate hike since 1994.
The rumored mega-hike would see key interest
rates rise by three-quarters of a percentage point,
the largest rate hike since 1994
On June 13, Wall Street plummeted into
a bear market as the S&P 500 dropped over
20% below its record set earlier this year. .
The 'Associated Press' reports that the index fell 3.9% in early trading, while the Dow Jones Industrial Average lost 1,000 points before finishing with a loss of 876. .
The 'Associated Press' reports that the index fell 3.9% in early trading, while the Dow Jones Industrial Average lost 1,000 points before finishing with a loss of 876. .
According to 'AP,' the sell-off centers around
the Federal Reserve, which is trying to control
inflation with a series of interest rate hikes.
According to 'AP,' the sell-off centers around
the Federal Reserve, which is trying to control
inflation with a series of interest rate hikes.
As those rising interest rates raise concerns
of a potential recession, prices fell worldwide
for everything from bonds to bitcoin. .
Some of the steepest declines
were seen in technology stocks. .
Tesla fell 7.1%, Amazon lost 5.5%
and GameStop dropped 8.4%.
Tesla fell 7.1%, Amazon lost 5.5%
and GameStop dropped 8.4%.
According to Coindesk, cryptocurrencies
also suffered as Bitcoin fell
over 14% to drop below $23,400. .
The best thing people can do is to
not panic and don’t sell at the bottom,
and we’re probably not at the bottom, Randy Frederick, Managing director of trading
and derivatives at the Schwab Center for
Financial Research, via the 'Associated Press'.
The best thing people can do is to
not panic and don’t sell at the bottom,
and we’re probably not at the bottom, Randy Frederick, Managing director of trading
and derivatives at the Schwab Center for
Financial Research, via the 'Associated Press'.
Some economists have speculated
that the Fed may raise its key
rates again on June 15.
The rumored mega-hike would see key interest
rates rise by three-quarters of a percentage point,
the largest rate hike since 1994.
The rumored mega-hike would see key interest
rates rise by three-quarters of a percentage point,
the largest rate hike since 1994