Wall Street tumbles on recession fears
Are we at the start of a recession or is this just a temporary correction? Less than 10 days after recording its worst day in 2019, Wall Street markets yesterday recorded an even worse single-day drop, as the DJ30, SPX500 and NSDQ100 indices each fell around 3%. The recent losses are attributed to the 10-year treasury bond yield briefly falling below its 2-year counterpart, which is an indicator of economic recession. The tech sector once again took a heavy hit, as Microsoft, Apple, Google, Facebook and Amazon recorded significant drops.
Today’s highlights: Crypto markets down
- Bitcoin falls below $10,000: The cryptocurrency market remained on its negative trajectory over the past 24 hours, as Bitcoin fell more than 7%, falling below the $10,000 mark for the first time in two weeks. The altcoin market registered even larger losses, as 6 of the top 10 cryptos showed double-digit declines.
- Volatility expected for USD: Retail Sales reports and the Philadelphia Fed Manufacturing Index report will be released today in the US at 12:30 GMT, potentially generating volatility for the greenback.
Stocks earnings releases on 15/08/19
Stocks earnings releases on 16/08/19
Earnings season continues: To follow upcoming earnings reports, go to eToro’s Earnings Reports Calendar. Please note that maximum leverage for CFD stocks will be limited to X5 one day ahead of earnings report releases. X10 leverage will be available again soon after the report is published.
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15/08/2019 appeared first on eToro.