Drastic drops in cryptocurrencies – Biznes w INTERIA.PL

The dive started around 04:51 AM, where the USD 51,500 bitcoin rate plunged sharply and by 05:30 the price was already below $ 43,000. Since then, BTC has increased and its price is now around $ 48,000.

According to analysts, there are several reasons for the sale. The first reason is related to the labor market data. Investors take profits fearing another wave of pandemic. Added to this is the Fed which announces worse forecasts for the US economy.

An important signal for investors may be the great interest in the BTC futures market.

With an increasing number of coronavirus cases, a less accommodative Fed and more cautious outlook for US GDP growth in the coming year, uncertainty around the stock market outlook may increase, resulting in a more volatile valuation environment, especially for more speculative assets, analysts at Goldman Sachs say.

Friday’s session on Wall Street ended with declines in indices, and technology companies were among the leaders of the declines. Investors remain concerned about a new variant of the coronavirus called Omikron, and the number of new non-farm jobs in the US in November was lower than expected.

Dow Jones Industrial closed by 0.17 percent at the close to 34,580.08 points.

The S&P 500 lost 0.84 percent at the end of the day. and amounted to 4,538.43 points.

Nasdaq Composite fell 1.92 percent. and closed the session at 15,085.47 points.

Over the week, the Dow Jones lost 0.9%, the S&P 500 fell 1.2% and the Nasdaq lost 2.6%.

– The uncertainty surrounding the Omikron is high, coupled with disappointing labor market data. No wonder investors decided to pull out before the weekend, said Ryan Detrick, chief market strategist at LPL Financial.


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Barclays analysts advise their clients to remain ready to buy stocks in the lows, however.

“We remain of the opinion that the overall macro and liquidity conditions are supporting the stock markets, so we advise you to buy them in times of weakness, expecting the return of the bull market,” said Emmanuel Cau of Barclays.

The latest data from the US labor market turned out to be a disappointment for investors on Friday

The number of new jobs in non-agricultural sectors in the United States increased by 210,000 in November. against the expected increase by 550 thousand. and an increase of 546 thous. a month earlier, after a revision from 531 thousand.

The unemployment rate in the US was 4.2%, expected 4.5%. against 4.6 percent a month earlier.

Hourly wages rose 4.8 percent in November. y / y and m / m increased by 0.3 percent. vs. 5% consensus and 0.4 percent

The ISM activity in services in the US in November was 69.1 points, against 66.7 points. in last month. Analysts expected the index at 65 points.

– The US Employment Report has never been a hit in terms of impact on the market. This is because Fed Chairman Jerome Powell has mapped out the short-term path of monetary policy in his speech this week, said Fawad Razaqzada, market analyst at ThinkMarkets.

Friday’s non-farm payroll report looks messy. It’s best to wait for next month’s fixes before the stagflation alarm sounds too loud. And if anyone thinks this report will postpone the accelerated cut in the asset purchase program mentioned this week by Fed chairman Jerome Powell, he will be wrong, said Jamie Cox, partner at Harris Financial Group.

Shares of companies sensitive to information about the Covid-19 pandemic fell. Boeing shares fell 2.5%, Royal Caribbean lost 2%.

Johns Hopkins University reported that 1,264 fatalities of Covid-19 had been registered in the past 24 hours in the United States. The presence of the coronavirus was confirmed in 132,822 consecutive people. The latest figures show that there have been a total of 48.83 million cases of coronavirus infection in America since the outbreak of the epidemic. The death toll is 785,912.

About Eric Wilson

The variety offered by video games never ceases to amaze him. He loves OutRun's drifting as well as the contemplative walks of Dear Esther. Immersing himself in other worlds is an incomparable feeling for him: he understood it by playing for the first time in Shenmue.

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