Recession fear looms, Twitter deal weighs on the TWTR share price, oil down, crypto stabilize [Video]
![Recession fear looms, Twitter deal weighs on the TWTR share price, oil down, crypto stabilize [Video]](https://editorial.fxstreet.com/images/Markets/Commodities/Energy/Oil/oil-pump-1843603_XtraLarge.jpg)
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.
Author
Ipek Ozkardeskaya
Swissquote Bank Ltd
Ipek Ozkardeskaya began her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked in HSBC Private Bank in Geneva in relation to high and ultra-high-net-worth clients.
