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June 9: Market Summary
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June 9: Market Summary

Recession fears

Jun 10
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June 9: Market Summary
fintwit.substack.com

Good evening.

Markets tumble, Janet Yellen says a U.S. recession is unlikely, and Ken Griffin's Citadel is entering the crypto market.

Let's dive in.


Markets

Here are today's market moves:


What Happened?

  • U.S. stocks fell on Thursday as investors awaited key inflation data that will be released tomorrow.

  • The tech-heavy Nasdaq Composite fell nearly 3%:

  • Investors are anxious about the U.S. consumer price index for May. Tomorrow's reading will help determine the path of Fed policy.

  • The crypto market fell on Thursday, with Bitcoin trading near $30,000, a key level that it has been hovering around for the past month.


Catch Up

  1. Treasury Secretary Janet Yellen said on Thursday that she believes a recession in the U.S. is unlikely.

  2. Ken Griffin's Citadel Securities is reportedly creating a crypto trading marketplace.

  3. The World Bank released a grim forecast for the global economy due to the war in Europe and the risk of stagflation.


What Else?

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June 9: Market Summary
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