Fintwit

Share this post
June 21: Market Summary
fintwit.substack.com

June 21: Market Summary

Market relief rally

Jun 22
29
Share this post
June 21: Market Summary
fintwit.substack.com

Good evening.

Markets rebound, the S&P 500 remains in a bear market, and Bitcoin is down 70% from its November high.

Let's dive in.


Markets

Here are today's market moves:


What Happened?

  • U.S. stocks climbed on Tuesday after suffering their worst week since March 2020 last week.

  • The S&P 500 remains in a bear market, down 22% from its January peak:

  • What's happening: Rising interest rates in 2022 have crushed risky bets across financial markets, from stocks to cryptocurrencies.

  • Last week, the Federal Reserve announced a 0.75% interest rate hike, the largest increase since 1994.

  • The crypto market recovered on Tuesday, with Bitcoin trading near $21,000, after a tumultuous holiday weekend.


Catch Up

  1. Bitcoin is down 70% from its all-time high of $69,000 in November.

  2. An anonymous bidder has shelled out a record $19 million for a lunch with billionaire Warren Buffet at a New York City steakhouse.

  3. The risk of a U.S. recession by the first quarter of 2024 has hit 72% as the Fed hikes rates.


What Else?

Twitter avatar for @dougboneparthDouglas A. Boneparth @dougboneparth
Image

June 18th 2022

844 Retweets9,448 Likes

Twitter avatar for @ParikPatelCFADr. Parik Patel, BA, CFA, ACCA Esq. (drpatel.eth) @ParikPatelCFA
We literally had teenagers becoming overnight millionaires flipping JPEGs of monkeys on the blockchain and everyone is still surprised we are in a bear market

June 20th 2022

2,017 Retweets19,059 Likes

Twitter avatar for @RampCapitalLLCRamp Capital @RampCapitalLLC
I decided stocks aren’t my thing
Image

June 17th 2022

507 Retweets6,032 Likes

Twitter avatar for @SahilBloomSahil Bloom @SahilBloom
23 lies you've been told about the world:

June 18th 2022

7,147 Retweets23,383 Likes
Share this post
June 21: Market Summary
fintwit.substack.com
TopNew

No posts

Ready for more?

© 2022 Fintwit
Privacy ∙ Terms ∙ Collection notice
Publish on Substack Get the app
Substack is the home for great writing