Recession fear looms, Twitter deal weighs on the TWTR share price, oil down, crypto stabilize [Video]
|New week begins on a negative note; the Friday relief across the US equities, and which was put on the back of Jerome Powell saying that the bigger rate hikes are off the table for now, couldn’t prevent the Dow Jones extended losses for the seventh consecutive week, the longest losing series streak since 2001. Nasdaq fell near 3% and the S&P500 ended last week near 2.5% lower, at the cusp of the bear market.
Activity in US and European futures hint that Friday’s rebound was certainly nothing more than a dead cat bounce.
Recession worries weigh on risk sentiment.
And the risk of Elon Musk walking away from the Twitter deal weighs on the TWTR share price.
In the energy markets, the barrel of US crude trades below the $110 mark on recession worries, but the mounting geopolitical tensions in Europe will certainly limit the selloff, as Finland and Sweden are now willing to join NATO.
In cryptocurrencies, Bitcoin and Ethereum shrugged off the stress of the Terra dollar’s collapse last week, and stabilized above the $30K and the $2000 respectively over the weekend.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.