Good evening.
Market volatility continues, the Fed slows its money printer, and Goldman Sachs makes the first OTC Bitcoin trade.
Let's dive in.
Markets
Here are today's market moves:
What Happened?
U.S. stocks rebounded on Tuesday as investors digested the Fed's latest rate hike comments.
On Monday, Fed chair Powell said inflation is “much too high” and the central bank would consider raising rates more aggressively if necessary.
Investors now have a more clear understanding of the Fed’s future plans, removing some uncertainty from the market.
The Nasdaq climbed nearly 2%, the 39th time this year the tech-heavy index closed with a move of 1% or more.
The crypto market climbed on Tuesday, with Bitcoin reaching as high as $43k, its highest level in almost three weeks.
Catch Up
Berkshire Hathaway is buying Alleghany Corp. for $11.6B in cash, Warren Buffett's biggest deal in six years.
Goldman Sachs becomes the first major U.S. bank to trade crypto over the counter.
President Biden warned on Monday that Russia is exploring the possibility of launching cyberattacks against the U.S.