Stocks

  Bloomberg Bitcoin prices tumbled once again, driving the token to the brink of $20,000 on evidence of deepening stress within the crypto industry. The largest cryptocurrency sank 8% to $20,180, the lowest level since December 2020. Bitcoin has fallen for nine days, the longest losing streak since 2014. Losses continued to be widespread, with Ether plunging 10% to $1,062. …

  Bloomberg US equity futures pared gains on Tuesday and a rebound in European stocks proved short-lived, suggesting markets aren’t out of the woods after a rout driven by expectations of sharper Federal Reserve interest-rate hikes to fight inflation. S&P 500 contracts came off session highs to trade around 0.5%, signalling some relief after the plunge that erased $1.3 trillion …

  Bloomberg Indian central bank’s verbal pledge to support a record government-borrowing program hasn’t been backed by actions so far and that may lead to a deeper selloff in the bond market, according to a top fund manager. The RBI “has just started doing a little bit of open-mouth operations in the sense they want the yield curve to behave …

  Bloomberg Chart patterns indicate that a revival in China’s technology stocks is running into key technical tests.The Hang Seng Tech Index has rallied 39% since mid-March through June 10 on bets that Beijing is drawing the curtain down on a regulatory clampdown on the sector. That’s added $441 billion in market value across the 30-member gauge. The index lost …

  Bloomberg The Indian rupee declined to a new record low and stocks slid as global risk-off sentiment spurred by expectations of aggressive Federal Reserve tightening weighed on emerging-market assets and stoked fears of more equity outflows. The local currency slid as much as 0.6% to 78.2825 per dollar on Monday, after having hit a series of lows in recent …

  Bloomberg Bitcoin continued its selloff into Asia’s on Monday morning as part of broader declines in cryptocurrencies after a sharp rise in US inflation triggered risk-off sentiment. The world’s largest digital token tumbled as much as 6.4% to $25,593, its lowest level since May 12, in a seventh day of losses. Ether declines as much as 9% to $1,342.32. …

Bloomberg Investors are putting billions of dollars into cash and stock funds as they seek protection from surging inflation. Cash saw the biggest inflows in six weeks at about $54 billion, while exchange-traded funds led additions of about $12 billion into equities in the week through June 8, according to Bank of America Corp (BofA) note, which cited EPFR Global …

  Bloomberg Financial markets across China are buzzing with activity as easing Covid lockdowns boost trading. Yuan-trading volumes in the onshore market bounced off two-year lows while stock turnover topped the key $149 billion mark for two straight sessions this week. That’s after Shanghai officially reopened following a two-month lockdown and Beijing further loosened Covid-19 curbs, spurring bets of an …

  Bloomberg European semiconductor stocks have gotten swept up in the sell-everything-tech environment even as the industry enjoys red-hot demand that’s bolstering this year’s earnings, because investors are already looking ahead to a tougher 2023. The region’s biggest chip-related companies, ASML Holding NV and Infineon Technologies AG, have lost a quarter of their value this year and are trading at …

Bloomberg Bank stocks down under have seen about $32 billion of market capitalisation erased this week on growing concerns that faster monetary policy tightening might increase housing-market risks and pressure valuations. Shares of the country’s four largest lenders will struggle to outperform given elevated price-earnings ratios and downside risks from the macro-economy, UBS Group AG analyst John Storey wrote in …