Stablecoins, explained: Why the crash of Terra and Luna has investors on the edge

This week, one popular so-called algo coin cratered, wiping out billions of dollars’ worth of value in just a few days. The coin, called TerraUSD, is designed to maintain its value at $ 1, forever and ever, amen. Instead, it fell as low as 23 cents Wednesday before recovering some ground. It was hovering around … Read more

Not all recessions are the same. Here’s what could happen to the economy and markets

Most agree a recession could start to take shape in the United States over the next few months. The question is what shape that recession will take. Recessions and recoveries come in shapes and sizes as varied as the alphabet. Perhaps that’s why economists have come to name different kinds of economic downturns after letters. … Read more

This Wall Street legend has lived through every bear market since the 1950s. He says the one coming could hit the S&P 500 with a 30% loss

Bob Farrell, a 90-year-old retiree in Florida, is hardly a household name on Main Street. But on Wall Street, Farrell is an absolute legend. To say that Farrell has seen it all is an understatement. He has witnessed every bull-, bubble- and bear market since 1957, when he joined Merrill Lynch as an analyst trainee … Read more

Stocks Plunge As Growth Worries Accelerate; Tech Leads Declines

Updated at 4:07 pm EST Dow closes down 653 points, or 2%, at 32,245.70 Nasdaq down 521 points, or 4.3%, at 11,623.25 The S&P 500 slides 132 points, or 3.2%, at 3,991.34 10-year notes trading at 3,034% WTI crude futures down $ 7.33 at $ 102.44 per barrel VIX index + 16.1% to 35.03 points … Read more

Stocks week ahead: How long will inflation last? The answer lies in the past

So the central bank has broken up with “transitory” and set its eyes on a new inflation-modifying term: entrenched. “It’s our job to make sure that inflation of that unpleasant high nature doesn’t get entrenched in the economy,” said Fed Chair Jerome Powell last Wednesday, just after he announced a half-point interest rate hike to … Read more

Stocks week ahead: How long will inflation last? The answer lies in the past

So the central bank has broken up with “transitory” and set its eyes on a new inflation-modifying term: entrenched. “It’s our job to make sure that inflation of that unpleasant high nature doesn’t get entrenched in the economy,” said Fed Chair Jerome Powell last Wednesday, just after he announced a half-point interest rate hike to … Read more

Market’s 2022 Slide Has Already Changed Investor Behavior

The 2022 pullback in US stocks intensified last week, with stocks on Thursday staging their largest single-day decline since the onset of the pandemic. The plunge came just a day after Federal Reserve Chairman Jerome Powell appeared to clear the way for a stock rally by casting interest-rate increases larger than a half-percentage point as … Read more

Stock Futures Slip as Investors Reassess Fed Comments

US stock futures fell, with technology stocks on track to lead losses after the opening bell, as investors assessed the implications of the Fed’s most aggressive tightening of monetary policy in more than two decades. Futures for the S&P 500 fell 0.6% Thursday. Contracts for the tech-focused Nasdaq-100 lost 0.7% and futures for the Dow … Read more

AMD Crushed It, Lisa Su Crushed It: Here’s How to Trade It

Crushed it! Okay, maybe I’m a little biased. Maybe I’m long Advanced Micro Devices (AMD). Maybe Lisa Su was already my favorite all-time CEO. Maybe, just maybe, when Advanced Micro Devices released the firm’s first quarter financial results on Tuesday night, the firm simply ripped the cover off the ball. Maybe. For the three month … Read more

Jack Ma ‘Arrest’ and SEC’s DiDi Investigation Whack China Tech Stocks

Mainland traders will have a nasty shock on their hands when they return to their computer screens on Thursday after a long holiday. The Hong Kong market saw heavy selling here on Wednesday in Chinese tech names such as Alibaba Group Holding ((BABA) and HK: 9988), which dropped 3.7% on the day. Investors were spooked … Read more