The Limited Times

Now you can see non-English news...

Crypto currency Bitcoin with price slide: Dow Jones and Dax with price fall due to Evergrande crisis


The cryptocurrency Bitcoin loses around a tenth of its value within a few hours. The Dow Jones and Dax are also falling sharply on the stock markets. Investors are taking money off the table as they fear the collapse of real estate giant Evergrande. However, in late trading, the US indices can limit their losses.

Enlarge image


The crypto currency Bitcoin is temporarily

falling in

double digits


Price drop on the crypto exchanges: Bitcoin, the world's most important cyber currency, temporarily fell by more than 10 percent on Monday and recently fell back below the $ 44,000 mark.

While it was quoted at around 53,000 US dollars on the Bitstamp trading platform last week, the value on Monday evening was around 43,800 dollars.

The sell-off in the stock market has also hit the cryptocurrency market.

Bitcoin has lost more than 20 percent of its value within a few days.

Other cryptocurrencies such as ether also fell sharply.

The sell-off on the stock market has also caused sell-offs in the digital currency market.

Dow Jones and Nasdaq give way ahead of Fed meeting: signal for the end of the flood of money?

The most important indices on the US stock markets also closed deeply in the red, but were able to recover from their previous daily lows within the last hour of trading. The Dow Jones Industrial closed 1.8 percent weaker at 33,970 points after briefly dipping below the 33,000 mark. The Nasdaq 100 limited its losses to 2.2 percent, after it had previously quoted 3.4 percent in the red. The recovery in the last hour of trading gives investors hope for a stabilization: The Dax fell on Monday with a loss of 2.3 percent, as much as it had not for four weeks. Stockbrokers now fear the fall below the 15,000 mark.

The impending collapse of the Chinese real estate giant Evergrande has been causing nervousness in the markets for days.

Investors fear that a bankruptcy of Evergrande could trigger a banking and financial crisis in China.

In late trading, however, a certain calm set in in the USA, so that the Dax could also start a stabilization attempt on Tuesday.

Investors are now waiting for the Fed meeting on Wednesday, from which they expect a signal that the multi-billion dollar bond purchases will be scaled back.

Everything revolves around the question of whether the US monetary authorities will now give a clear signal for the already expected reduction in their security purchases.

However, many market observers do not expect this to happen until a little later.

Crude oil prices fell.

The barrel of North Sea Brent was quoted this morning at $ 74.75, around $ 0.60 lower.

The US variety WTI was down $ 0.64 to $ 71.33.

Oil prices have recently been negatively impacted by the rising dollar, which has made oil more expensive for many investors and thus dampened their demand.

Crude oil is traded internationally in dollars, which is why exchange rate effects are often of great importance.

Price support, on the other hand, comes from the supply side: because numerous production platforms in the Gulf of Mexico are still idle due to the aftermath of Hurricane Ida, US production is lagging behind demand.

According to the International Energy Agency (IEA), even the increasing supply of the Opec + oil network cannot compensate for the shortage at present.

la / mmo

Source: spiegel

All news articles on 2021-09-20

You may like

News/Politics 2021-09-07T15:22:57.335Z
News/Politics 2021-10-06T16:57:59.208Z

Trends 24h

News/Politics 2021-10-15T21:27:39.401Z
News/Politics 2021-10-16T04:09:37.598Z


© Communities 2019 - Privacy