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June 13: Market Summary
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June 13: Market Summary

S&P 500 enters bear market

Jun 14
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Share this post
June 13: Market Summary
fintwit.substack.com

Good evening.

Global markets tumble, S&P 500 enters a bear market, and Bitcoin approaches $20,000.

Let's dive in.


Markets

Here are today's market moves:


What Happened?

  • U.S. stocks tumbled on Monday as investors fear higher interest rates will cause a U.S. recession.

  • The S&P 500 is down more than 20% from its January record, sending it to an official bear market.

  • Fed meeting. The key event for investors this week is the Fed policy meeting on Wednesday.

  • Investors are preparing for the possibility of a larger-than-expected rate hike after inflation hit a 40-year high in May.

  • The crypto market fell sharply on Monday, with Bitcoin trading near $22,000 and Ethereum near $1,200, as global markets tumbled.


Catch Up

  1. The overall cryptocurrency market has lost more than $2T in market value since November.

  2. The S&P 500 is having its worst year-to-date performance since 1940.

  3. The consumer price index rose 8.6% in May, the fastest increase since 1981.


What Else?

Twitter avatar for @dougboneparthDouglas A. Boneparth @dougboneparth
Mood
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June 12th 2022

33,392 Retweets161,535 Likes

Twitter avatar for @kgreifeldKatie Greifeld @kgreifeld
every stock in the S&P 500 is red right now
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June 13th 2022

2,989 Retweets13,495 Likes

Twitter avatar for @engineers_feedWorld of Engineering @engineers_feed
20 years ago, the Internet was an escape from the real world. Today, the real world is an escape from the Internet.

June 13th 2022

948 Retweets4,485 Likes

Twitter avatar for @DogetoshiSteven @Dogetoshi
I don't make the rules.
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June 12th 2022

1,092 Retweets6,841 Likes
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