Good evening.
Market volatility continues, earnings season is off to a rocky start, and Microsoft makes a big bet on the metaverse.
Let’s dive in.
Markets
Here are today’s market moves:
What Happened?
U.S. stocks tumbled on Tuesday as investors grapple with earnings season and rising Treasury yields.
The Nasdaq is down 9.7% from its November 19 record high.
The main concern among investors right now is how quickly and aggressively the Fed will raise rates this year.
Earnings season is off to a rocky start. Several financial companies have reported results showing a decline in fourth-quarter profits.
The crypto market fell on Tuesday, with Bitcoin trading near $42k, as cryptocurrencies moved lower with other risk assets.
Catch Up
Microsoft to acquire Activision Blizzard for nearly $70B, its biggest deal ever.
39% of Nasdaq companies have dropped at least half from their all-time highs.
The median home price soared 16% in the last year, notching a new record of $365,000.