Good evening.
Markets rally, oil tumbles, and President Biden officially signs an executive order on crypto.
Let's dive in.
Markets
Here are today's market moves:
What Happened?
Global stocks surged on Wednesday, extending a volatile spell as investors monitored the latest developments in Ukraine.
The S&P 500 had its biggest one-day rally since June 2020:
The war in Ukraine has fueled big moves in stocks, commodities, currencies and bonds. This has created a difficult market environment for investors to navigate.
The crypto market climbed on Wednesday, with Bitcoin trading near $42k, after U.S. President Biden issued a long-awaited executive order on crypto.
Catch Up
Oil prices tumbled 14% on Wednesday after climbing to a nearly 14-year high yesterday.
President Biden announced an executive order to study digital currencies, a move the industry welcomed.
Hedge fund billionaire Bill Ackman says Russia’s attack on Ukraine means World War III has likely already started.