The Limited Times

Now you can see non-English news...

Stock market: Cryptocurrency Bitcoin threatens to fall below 20,000 US dollars, Dax in the plus

2022-06-17T06:22:15.509Z


After the previous day's fall, the Dax is attempting to stabilize. In view of the extremely nervous market environment, this is probably just a countermovement. Crypto investors also remain unsettled, with Bitcoin threatening to fall below the $20,000 mark.


Enlarge image

Trader on the German Stock Exchange:

The Dax is trying to stabilize

Photo: Fredrik von Erichsen / picture alliance / dpa

At least for the time being, the Dax can avert falling below the 13,000 point mark again on Friday.

After another wave of selling, which hit the leading index again the day before, it should start trading on the futures exchanges with slight profits on the day of the big fall.

The broker IG appraised the leading German index a good 1 percent higher at 13,167 points shortly before the start of trading.

On Thursday it had lost 3.3 percent to 13,036 points due to recession fears triggered by drastic interest rate hikes.

In view of the extent of the sell-off - in an extremely nervous market environment, the Dax lost around 1700 points or more than 11 percent within a few days - experts currently see no more than a counter-movement.

"Money is becoming more expensive globally, and it still has a long way to go," said the experts at Dutch bank ING in the morning, with a view to the interest rate hikes in Switzerland and Great Britain the day before.

Bucking the trend, however, Japan's central bank left its monetary policy extremely relaxed.

The expiry of contracts on the futures exchanges could bring larger fluctuations again on Friday.

Economic data is also expected during the course of the day, which will provide indications of the consequences of extremely high inflation and rising interest rates on the economy.

This is also crucial for the central banks' further leeway in their tightening of monetary policy.

Dow closes below 30,000 points

The price gains on Wednesday after the interest rate hike in the USA are already wasteland just one day later.

The tighter monetary policy of the central banks of Hong Kong, England and, surprisingly, Switzerland as well made the risks of global inflation clear to investors on Thursday – along with the associated risk of a recession.

In this extremely bad environment for shares, the

Dow

Jones Industrial

lost 2.42 percent to 29,927 points.

The stock market barometer fell below the 30,000 mark for the first time since the beginning of last year.

Since the record high in November 2021, the Dow has lost around a third.

The market-wide

S&P 500

lost 3.25 percent to 3666 points.

The tech -

heavy Nasdaq 100

fell even more, down 4.02 percent to 11,127 points.

losses in Asia

The markets in Asia also remained under pressure.

The Nikkei index, which comprises 225 values, was 1.7 percent lower at 25,988 points.

The broader

Topix index

fell 1.6 percent to 1838 points.

The

Shanghai

Stock Exchange was unchanged.

The index of the most important companies in

Shanghai and Shenzhen

gained 0.4 percent.

Bitcoin just below $20,000 - threatens to fall to 18-month low

The world's most famous digital currency, Bitcoin, continues to fall towards the $20,000 mark.

The cyber currency was last listed on the Bitstamp trading platform at 20,858 US dollars, around 5 percent weaker than the previous day.

Bitoin had last surged above $20,000 in December 2020 and continued to soar to a record high of $62,000 in November 2021.

Meanwhile, Bitcoin (BTC) is trading at its lowest level in 17 months and has lost more than 60 percent since its all-time high.

The crypto currency has lost around 30 percent of its value within a week.

Bitcoin hit a record high of $69,000 in November last year.

Oil prices weaker

Oil prices eased on Friday.

Recently, a barrel (159 liters) of the North Sea Brent cost 119.00 US dollars.

That was 81 cents more than the day before.

The price of a barrel of the American West Texas Intermediate (WTI) variety fell by 91 cents to $116.68.

With news agencies

Source: spiegel

All news articles on 2022-06-17

You may like

News/Politics 2024-02-12T18:43:52.766Z
News/Politics 2024-02-22T17:13:27.184Z

Trends 24h

News/Politics 2024-03-28T06:04:53.137Z

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.