Good evening.
Stocks continue lower, crypto market in extreme fear, and GameStop plans to launch an NFT marketplace.
Let’s dive in.
Markets
Here are today’s market moves:
What Happened?
U.S. stocks continued lower on Thursday after the Fed signaled it may raise interest rates sooner than expected.
The tech-heavy Nasdaq is on track for its worst week since February 2021.
The prospect of higher rates is diminishing investors' appetite for riskier corners of the market.
Investors are rotating out of growth and into value stocks.
The crypto market was relatively quiet on Thursday, with Bitcoin trading near $43k. The market is currently sitting in extreme fear.
Catch Up
U.S. weekly jobless claims total 207,000, higher than expected amid omicron spread.
Hedge fund manager Ray Dalio recommends holding a 1-2% Bitcoin allocation in an investment portfolio.
GameStop announces plans to build an NFT marketplace.