The US stock market tries to remain upbeat as fears of recession once again take the center stage. All eyes on the FOMC meeting ahead this week on Wednesday.
As a more direct way to sanction Russia, European Union leaders are looking at boycotting Russian crude oil and gas supplies.
The US stock indices registered strong gains last week with the Nasdaq gaining the most as tech and growth stocks seeing a strong bounceback. The market seems to have already priced the Fed hikes beforehand.
The CEO of LMAX David Mercer noted the significance of the new development to the crypto space.
The US government has announced that it will no longer accept Russian oil or energy imports and wants Western allies to follow suit.
Bitcoin over the years has been tagged as a hedge against inflation and as such, many market experts expected a major boost in price as Russia’s invasion of Ukraine has sent crude oil to its highest price since 2008.
General underperformance plagued stock futures and indexes across three continents following heightened tensions between Russia and Ukraine.
The broad equity market has a negative reaction to the possibility of an increase in interest rates. US stock futures are reducing across major indexes.
According to the bank, the public holds approximately $2.6 trillion of gold that is very likely to be consumed by Bitcoin in the next few years.
The oil markets have been more stable lately despite the Omicron scare, as investors shrugged off the impact of the strain on grounds that it is not as deadly as earlier strains.
The spread of Omicron variant combined with the Fed’s tapering measures have put pressure on stocks leading to major sell-offs over the last week.
While many may maintain the stance that they do not know what is next for crude oil, OPEC+ is stepping up its responsiveness and is ready to meet to make any necessary adjustments to oil supply.
The blockchain and crypto ecosystem is evolving at a fast pace, and before SEBA, other prominent players in the space have already floated gold-backed tokens for users to invest in.
The emergence of products like 21Shares ETNs is a good way to shift the paradigm for more conservative investors who want an extra level of security.
While the big cap stocks are feeling the weight of reality in the broader stock market, the Russell 2000, a benchmark for small-cap stocks, also fell 3.86% in a week.