dinsdag 20 juli 2021

Financial Markets Meltdown

 

U.S. stock market crashes on delta variant, inflation fears

Well, that was ugly.

Out of nowhere, the financial markets had a meltdown, much like President Joe Biden’s brain when he asked a question without his cue cards.

Here is a rundown of what happened:

Dow Jones Industrial Average: -725.81, 2.09%, to 33,962.04

S&P 500: -68.67, or 1.59%, to 4,258.49

Nasdaq: -152.25, or 1.06%, to 14,274.98

U.S. crude oil: -$5.20, or 7.24%, to $66.61

Gold: -$1.70, or 0.09%, to $1,813.30

Silver: -$0.565, or 2.19%, to $25.23

Bitcoin: -$860.68, or 2.72%, to $30,811.80

Ethereum: -$81.36, or 4.28%, to $1,822.30

10-year Treasury yield: -0.1% to 1.199%.

So, why did this happen?

A few factors: concerns over the resurgence of coronavirus cases, surging inflation, OPEC striking a deal, and economic uncertainty heading into the fall.

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