Black weekend for the business world:
US stock markets fell (NASDAQ lost 2% after already falling 3% during trading day on Friday), the US employment report for November was particularly disappointing, and Bitcoin lost a quarter of its value within two days and traded At $ 47,000 per unit, after approaching about $ 70,000 just a month ago.
On Wall Street, Ali Baba shares lost about 8 percent as a result of the war the Beijing communist regime declared on China's large corporations, claiming excessive centralization.
Another Chinese giant, Didi (Cooperative Travel), is imitating more than 22% of a campaign, after the Chinese government called for its removal from Wall Street trading.
The business world is wondering if Ali Baba will be next in line to surpass the sights of official China.
Meanwhile US dependence on China is starting to come at a high price: The US Department of Health has announced a shortage of 111 types of drugs, including antibiotics and drugs for critical illnesses such as cancer and heart.
According to the announcement, about 80% of the drugs marketed in the US are not manufactured within its borders, and many of them are shipped to it from China. Now, as a result of the severe supply chain problems, the essential drugs are missing on the shelves.
The recent declines in the stock market may be just the opening shot for more significant declines.
Market expert Mike Murphy told Fox Business that if the Biden administration's planned spending plan exceeds $ 3 trillion, it will severely hurt growth and lead to market declines.
Murphy warned mainly against the dramatic tax increases that would alienate investors and suppress the momentum the American economy has gained in recent years.
"I very much hope the plan does not go through," Murphy said.
The fate of the plan depends mainly on two moderate Democratic senators, who meanwhile refuse to vote for it.
Meanwhile, the US labor market added only 210,000 jobs in November - a figure of less than 60% compared to forecasts of an increase of more than half a million jobs.
However, the unemployment rate fell from 4.6 to 4.2 percent, and the employment rate stands at 61.8 percent - the highest since the Corona outbreak in 2020.
Bitcoin posted a free fall to $ 43,000 over the weekend, but has since risen to around $ 47,000.
Although this is a sharp decline of about 25% within two days, to put the data in proportion it should be remembered that since the beginning of 2021 the value of Bitcoin has risen by about 45%, and those who invested in the currency in the same period last year enjoyed a margin of more than 120%.
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