Good evening.
Stocks slide, oil climbs, and today marks the 2nd anniversary of the stock market's COVID bottom.
Let's dive in.
Markets
Here are today's market moves:
What Happened?
U.S. stocks fell on Wednesday as oil prices rose, renewing inflation fears.
In recent days, global markets have been rallying, despite anxieties about inflation and the war in Ukraine.
Some analysts say the recent bounce is being driven by low volume, indicating it could just be a "bear-market rally."
On March 23, 2020, exactly two years ago, the stock market hit its pandemic bottom. The S&P 500 is up 102% since then.
The crypto market was mainly flat on Wednesday, with Bitcoin trading near $42,500 and Ethereum near $3,000.
Catch Up
Bridgewater Associates, the world's largest hedge fund, is reportedly planning to back a crypto fund for the first time.
Russia’s stock market is set to partially reopen on Thursday, a month after it shut down following the invasion of Ukraine.
The S&P 500 is 6.6% off the record close it hit on January 4.