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bitcoin falls below 80000 amid tariff fears and major hack
Bitcoin has dropped over 5% to a 3-1/2-month low of $79,666, influenced by uncertainty surrounding President Trump's tariff plans and a significant $1.5 billion hack of ether. The cryptocurrency has lost a quarter of its value since mid-December, as investor confidence wanes amid broader economic concerns and a sell-off in tech stocks. The recent hack and geopolitical tensions have further dampened enthusiasm, making it challenging for investors to remain optimistic about Bitcoin's prospects.
stock market update smi slightly lower as autoneum shares slump
In Asian forex trading, the yen remained stable against the dollar ahead of the Bank of Japan's interest rate decision, while the dollar slightly rose against the yuan and Swiss franc. Oil prices dipped amid speculation of increased OPEC production, with North Sea Brent crude at $78.73 per barrel. US markets saw gains, with the Dow Jones up 0.3% and Netflix experiencing significant subscriber growth, boosting its shares nearly 10%. Concerns over Trump's tariff plans on Chinese imports weighed on the dollar, which faced headwinds as clarity on trade negotiations remained elusive.
retail data hints at potential interest rate cuts in australia
November's retail trade data in Australia showed a 0.8% month-on-month increase, below the expected 1.0%, raising the likelihood of a February interest rate cut to around 75%. The Black Friday sales boosted retail activity, but analysts warn of challenging conditions ahead, particularly for companies like Myer and Lovisa, which are facing stagnant household activity and cost pressures.
tock market sees mixed results as chip stocks react to nvidia outlook
Super Micro Computer is experiencing a recovery rally on Wall Street, with the SMI higher in pre-market trading, while major Japanese chip stocks like Tokyo Electron and Advantest saw declines. Concerns linger over Nvidia"s upcoming guidance, as analysts highlight the importance of chip demand for the next quarter, with Nvidia"s performance serving as a key indicator for the tech sector"s AI trajectory.
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