Good evening.
Market selloff continues, Nasdaq enters correction territory, and the global crypto market slips below $2T.
Let’s dive in.
Markets
Here are today’s market moves:
What Happened?
U.S. stocks fell on Wednesday, extending a recent stretch of losses that have pulled major indexes down to start the year.
The tech-heavy Nasdaq has fallen 10% from its November peak, putting it in correction territory.
Why the drop? Investors have been selling fast-growing technology stocks in anticipation of rising rates.
Over the next week, major companies such as Apple and Netflix will announce their Q4 earnings results.
The crypto market fell on Wednesday, with Bitcoin dropping below $42k, on continued concerns about macro conditions.
Catch Up
Coinbase partners with Mastercard to let users buy NFTs via cards.
Oil prices jump to 7-year highs amid supply concerns and drone strikes.
The global crypto market slipped below $2T after peaking near $3T in mid-November.
