Wall Street snaps winning streak ahead of Trump-Xi meeting
US markets closed lower yesterday, as the DJ30, SPX500 and NSDQ100 all finished in the red. Despite having a positive reaction to the release of minutes from the latest Fed meeting earlier in the day, the marked later dipped. The momentum-shift is attributed to reports that White House advisor Peter Navarro, a long-time opposer of giving China any leeway in US trade, will be attending the Trump-Xi dinner at the G20 summit in Argentina, which starts today. Despite the losses, some big tech companies, such as Facebook, Netflix and Google registered gains.
Today’s highlights: Bitcoin holds on to recent gains
- Cryptoassets seen mixed: Following several days of gains, 4 of the top 10 cryptoassets reverted to losses over the past 24 hours. Bitcoin remained positive, climbing back to its highest price levels of the week. Stellar registered the largest gains of the top 10 cryptos, rising 7% and passing Bitcoin Cash to become the world’s 4th-largest crypto at the time of writing.