Good evening.
Market volatility continues, bitcoin briefly drops below $40k, and Q4 earnings season begins this week.
Let’s dive in.
Markets
Here are today’s market moves:
What Happened?
U.S. stocks finished flat on Monday after a late rally helped major tech stocks reverse earlier losses.
Stocks have had a rough start to the year after the Fed signaled last week that it plans to raise rates as soon as March.
The S&P is off to its worst start to a year since 2016, and the Nasdaq fell 4.5% last week – its worst drop since February 2021.
Q4 Earnings. Investors are looking ahead to corporate earnings season, which kicks off this week with results from U.S. financial firms.
The crypto market fell on Monday, with Bitcoin briefly dropping below $40k for the first time since September.
Catch Up
An estimated 15% of the global bitcoin mining network went offline late last week, as mining hub Kazakhstan shut down its internet amid protests.
The SEC plans to force big private companies to routinely share information about finances and operations.
PayPal is 'exploring' launching its own stablecoin called PayPal Coin.