Good evening.
Markets bounce, Bitcoin struggles below $30k, and stocks are having their longest losing streak since the dot-com crash.
Let's dive in.
Markets
Here are today's market moves:
What Happened?
U.S. stocks rebounded on Monday after briefly entering into bear market territory on Friday.
Stocks have fallen for seven consecutive weeks, the longest losing streak since the dot-com crash in 2001.
The overall market continues to be driven by extreme fear:
What's going on? The driving force behind the recent selloff is growing fears that high inflation and rising rates could tip the U.S. economy into a recession.
The crypto market fell on Monday, with Bitcoin trading near $29,000. The world’s largest cryptocurrency has struggled since falling below $30k earlier this month.
Catch Up
Cryptocurrencies have lost nearly $2T in market value since early November.
There are now 200 confirmed and suspected cases of monkeypox across at least a dozen countries.
The 50 richest people have lost more than half a trillion dollars on paper this year.