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US stocks fell on Friday as the House voted against a Trump-backed spending bill, raising the likelihood of a government shutdown. The Nasdaq Composite led losses with a 0.8% drop, while the S&P 500 and Dow Jones fell 0.4% and 0.1%, respectively. Key inflation data showed a month-over-month deceleration in price increases, but inflation remains a concern for the Federal Reserve.
Bitcoin's price plummeted to $92,000, triggering $1.4 billion in liquidations, with altcoins like Ethereum and XRP suffering even greater losses. Spot Bitcoin ETFs experienced record outflows of $672 million, coinciding with a broader market downturn following comments from the Federal Reserve chair about interest rates. Despite the turmoil, some traders remain optimistic about future gains, citing potential support from a pro-crypto administration.
Wall Street faced volatility as the S&P 500 and Nasdaq marked their third consecutive day of losses, while the Dow ended a 10-day losing streak. FedEx surged 8.5% after a strategic spin-off, while Nike shares fell 6% amid a delayed turnaround plan. Novo Nordisk's obesity treatment trial results disappointed, causing its stock to drop, while Berkshire Hathaway increased its stake in Occidental Petroleum.
Cathie Wood, founder of ARK Investment Management, predicts a surge in mergers and acquisitions following Donald Trump's election, driven by anticipated regulatory rollbacks. She also forecasts Bitcoin could exceed $1 million by 2030, citing its fixed supply and growing institutional interest. Wood emphasizes that the crypto market is still in its early stages, with significant growth potential compared to gold.
US stock futures indicate a challenging day ahead as the House voted against a Trump-backed spending bill, raising the likelihood of a government shutdown. Key inflation data is anticipated, with futures for the S&P 500 down 1% and Nasdaq futures plunging 1.6%. Major stocks, including Nvidia and Tesla, faced significant declines amid global market pressures and disappointing earnings reports.
U.S. stock index futures fell sharply amid fears of a government shutdown and shifting interest rate expectations, as Congress struggles with President Trump's spending bill. The Federal Reserve has raised its inflation forecast for 2025, contributing to market volatility.In Russia, the central bank maintained its key interest rate at 21%, surprising markets that expected a hike. This decision aims to combat inflation, currently at 9.5%, while facing criticism from business leaders who argue that high rates hinder investment in a strained economy.
Mark Yusko claims Donald Trump and his son Eric are investing heavily in cryptocurrencies like Bitcoin, XRP, and Hedera, potentially influencing U.S. crypto policies and ETF approvals. Speculation arises about classifying XRP and HBAR as national assets, while Charles Hoskinson refutes these claims, asserting Bitcoin is the only contender for a national reserve. Yusko remains optimistic about a shift in U.S. leadership towards a more crypto-friendly environment, reflecting global trends in innovation and competitiveness.
The stock market's value is increasingly concentrated in a few megacap tech companies, raising risks for passive index investors due to reduced diversification. The Herfindahl-Hirschman Index (HHI) has surged to 207, indicating significant concentration, which could lead to sharp declines in wealth if major players like Apple or Microsoft experience price drops.
Chainlink's LINK token has corrected 15% from its December peak, currently trading around $24.08, despite a remarkable 63% gain over the past month and 69% over the year. Trading volume surged by 49%, indicating active market engagement, while analysts remain optimistic, projecting a potential price of $75 by May 2025.
Bitcoin (BTC) plummeted 14% in three days, dropping from over $108,000 to around $93,200, influenced by the Federal Reserve's inflation concerns. The meme coin market suffered a 20% decline, with major assets like DOGE and SHIB facing significant losses, while XRP hit a multi-day low of under $2, though optimism remains for a potential rally driven by key developments.
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