Good evening.
Markets slide after inflation report, Bitcoin touches $25,000, and ChatGPT predicts a stock market crash.
Let's dive in.
Markets
Here are today's market moves:
What Happened?
U.S. stocks fell on Thursday after a hot inflation report raised concerns the Fed will need to keep interest rates high for longer.
The tech-heavy Nasdaq fell 1.78%, its worst day of the month:
The stock market has risen 15% since October, when it hit its 2022 low. Investors are starting to question whether the recent rally can continue.
The crypto market was volatile on Thursday. Bitcoin briefly hit $25,000, its highest level in six months, but then fell back below $24,000.
Catch Up
U.S. credit card debt nears $1 trillion – a record high.
Charlie Munger was asked about long-term valuations: "I don't worry about it too much, because I will be dead."
Elon Musk, the co-founder of OpenAI, warns that AI is one of the biggest risks to the future of civilization.
What Else?
