WASHINGTON/LONDON—Shares tumbled on Wall Street on Friday as they reopened after Thanksgiving, while European stocks saw their biggest sell-off in 17 months and oil prices plunged by $10 per barrel as fears over a new coronavirus variant sent investors scurrying to safe-haven assets. The World Health Organization (WHO) on Friday designated a new COVID-19 variant…
Equities, Oil Prices, US Treasury Yields All Drop on COVID-19 Variant Fears
November 27, 2021
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You Ask, We Analyze: Why BabyDoge Must Hold This Key Level Despite Dogecoin’s Action
Benzinga asked its Twitter followers on Thursday evening what they’re buying at the open on Friday. From the replies, Benzinga selected one ticker for technical analysis. @Shafiusani20 is buying BabyDoge. BabyDoge, which refers to Dogecoin as its crypto father, was trading down almost 8 percent lower on Friday in sympathy with Dogecoin, which was also…
7 Stocks ‘On Sale’ This Holiday Season
The SPDR S&P 500 ETF Trust has generated a total return of 26.4 percent year-to-date, but much of those overall gains have been driven by a handful of megacap stocks. In fact, 65 stocks in the S&P 500 are currently in the red year-to-date in 2021. When a stock struggles in a bull market, it’s…
Dow Jones Drops 900 Points on Opening Bell as New COVID-19 Variant Roils Markets
November 26, 2021
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The Dow Jones fell over 900 points just after opening bell on Nov. 26, with other major Wall Street stock indexes—and risk assets more generally—also seeing sell-offs as news of a new COVID-19 variant spreading in South Africa seems to have sparked a broader risk-off sentiment among investors. By 10:30 a.m. New York time, the…
Bitcoin Falls as New COVID-19 Variant Sparks Panic in Market
Bitcoin enters bear market territory as the cryptocurrency fell eight percent in the last 24 hours to trade at $54,176, reaching its lowest level since the first week of October amidst a market panic over a new heavily-mutated variant of COVID-19 emerging from South Africa. When an asset declines 20 percent or more, it effectively…
Bitcoin Falls Into Bear Market as New COVID-19 Variant Spooks Markets
Bitcoin enters bear market territory as the cryptocurrency fell eight percent in the last 24 hours to trade at $54,176, reaching its lowest level since the first week of October amidst a market rout over a new heavily-mutated variant of COVID-19 emerging from South Africa. When an asset declines 20 percent or more, it effectively…
Money Markets Scale Back ECB Rate Hike Bets on Coronavirus Variant Worries
November 26, 2021
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LONDON—Euro zone money markets on Friday scaled back bets on a rate hike from the European Central Bank next year as news of a new coronavirus variant spreading across South Africa cast a shadow over the short-term economic outlook. Money market futures were pricing in roughly a 50 percent chance of 10 basis point rate…
Holiday Season Moves Into High Gear but Challenges Remain
NEW YORK—Buoyed by solid hiring, healthy pay gains, and substantial savings, shoppers are returning to stores and splurging on all types of items. But the big question is: How much will supply shortages, higher prices, and staffing issues dampen their mood this holiday season? Americans, already fatigued with pandemic-induced social distancing policies, may get grumpy…
Oil Weakens, Focus on OPEC+ Response to US–Led Crude Release
November 25, 2021
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MELBOURNE/SINGAPORE—Oil prices edged down on Thursday with investors waiting to see how major producers respond to the emergency crude release by major consuming countries designed to cool the market, even as data pointed to healthy U.S. fuel demand. Brent crude futures slipped 7 cents to $82.18 a barrel at 0726 GMT, after losing 6 cents…
Global Stocks Mixed After Fed Says Ready to Act on Inflation
November 25, 2021
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BEIJING—Global stock markets mostly rose Thursday after Federal Reserve officials indicated they were ready to hike interest rates sooner than expected if needed to cool U.S. inflation. London, Tokyo, Frankfurt, and Hong Kong markets advanced, while Shanghai declined. Wall Street futures were higher. U.S. markets were closed for the Thanksgiving holiday. They reopen Friday for…
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