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The Dow Jones Industrial Average closed down 700.75 points, or 1.31%, at 52,762.30 on Thursday, August 20; the S&P 500 closed down 66.42 points, or 0.86%, at 7,641.56; and the Nasdaq Composite closed down 263.92 points, or 1.00%, at 26,067.17 on Thursday, August 20.August 21st - U.S. stocks closed lower on Thursday. The Dow Jones Industrial Average fell 1.3%, the S&P 500 fell 0.86%, and the Nasdaq Composite fell 1%. Moderna (MRNA.O) fell 23.5%, and Walmart (WMT.N) fell 9%. Marvell Technology Group (MRVL.O) rose 5.8%, Micron Technology (MU.O) rose about 4%, and SanDisk (SNDK.O) rose about 2%. The Nasdaq China Golden Dragon Index closed down more than 1%, while Alibaba (BABA.N) rose 1.3%.Cuban Foreign Minister: The United States continues to impose sanctions on Cuban companies in an attempt to cripple the Cuban economy and hinder the Cuban government from providing basic services to its citizens, which were already in a difficult situation due to the long-term blockade.On August 21st, it was reported that the USS Abraham Lincoln, a nuclear-powered aircraft carrier, began its return voyage on August 20th, according to a source. Previously, the USS George Washington had arrived in the Middle East to alleviate the pressure from the Lincolns long deployment. However, a US official stated that the Lincoln remains in the US Navys Fifth Fleet area of operations, meaning it has not yet left the US Central Commands area of responsibility. The Lincoln was deployed to the Middle East in January of this year to participate in US military operations against Iran and the US naval blockade of Iran, and has been deployed for over 250 days. Recently, reports have surfaced regarding living conditions and mental health issues among the sailors on the Lincoln due to the high-intensity operational pace and long deployment.According to the relevant ruling: The U.S. Court of Appeals rejected the Department of Transportations request to terminate the joint venture between Delta Air Lines (DAL.N) and Aeromexico.

Crypto Prices Slump Over the Weekend

Skylar Shaw

May 09, 2022 09:59

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The Bitcoin market dropped over the weekend, matching the stock market's decline.


According to CoinDesk pricing, the world's biggest cryptocurrency, bitcoin, plummeted to $34,656 on Sunday afternoon, down 3.9 percent from Friday evening. Bitcoin fell below $34,000 earlier this afternoon, about half of its all-time high of $67,802 set in November.


Ethereum, the second-largest cryptocurrency, was trading at about $2,565 on Sunday afternoon, down 5.1 percent from Friday at 5 p.m. EDT.


Bitcoin and other cryptocurrencies are notorious for their wild price volatility. 


For years, individual investors dominated the market, but institutional investors, such as hedge funds and money managers, have begun to take control.


The market has become more aligned with regular markets as more professional investors trade crypto. Many institutional investors that acquire cryptocurrencies see them as high-risk investments, akin to equities in the technology sector. During periods of market turmoil, investors prefer to flee to safer areas.


Last week, the stock market fell the day after the Federal Reserve issued a half-point rate hike, the largest since 2000, to combat inflation. Additional rate hikes are possible this summer, according to Fed Chairman Jerome Powell. 


Some of the central bank's $9 trillion asset portfolio is also being unwound.


The Nasdaq Composite, which is heavily weighted in technology, fell to a 52-week low of 12144.66 on Friday. It is down 22% so far this year.


For most of 2022, cryptocurrency prices remained flat as investors braced for higher interest rates. According to CoinMarketCap, the crypto market was busy over the weekend, with $112 billion in market volume in a 24-hour period. The total value of the cryptocurrency market is currently $1.59 trillion.

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