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The markets were sold again Monday.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The S & P 500 (^ GSPC) fell 2.08%, closing at the lowest level since October 2017. The Dow (^ DJI) fell 507.53 points to its second lower end of this year, while the Nasdaq (^ IXIC) fell 2.27% on Monday. It was the lowest closing of the tech-heavy index of 2018. "data-reactid =" 16 "> The S & P 500 index (^ GSPC) fell 2.08%, closing at the level lower since October 2017. The Dow (^ DJI) fell 507.53 points to its second lower end of this year, while the Nasdaq (^ IXIC) fell 2.27% on Monday, closing lower than the tech-heavy index of 2018.
The highly anticipated Federal Open Market Committee (FOMC) will begin its two-day meeting on Tuesday. While the Fed should raise interest rates after Wednesday's meeting, special attention will be paid to the language of the central bank.
"The Fed will continue the process of weaning the market from the future direction.The minutes of the FOMC's last meeting found that" the communications of the Committee in its post-meeting statement may need to be reviewed at the next meetings, in particular language that refers to the Committee's expectations for "further gradual increases" in the target range for federal funds rate, "said Neil Dutta, manager of economics at Renaissance Macro Research.
Deutsche Bank has stated that the tone of the Fed is fundamental and will be critical. "The most important question will be what the Committee sends for its political course over the next few years." Overall, we expect the message to be that the Fed remains optimistic about the outlook and expects to further increase rates in the coming quarters, but that the The pace of normalization is expected to slow next year from its recent quarterly rate, while the way forward becomes more dependent data, "the bank wrote in a statement.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Thursday, Darden Restaurants (DRI) is programmed to report earnings before the bell, while FedEx (FDX) and Micron (MU) will report after the market closes. "data-reactid =" 20 "> On Thursday, Darden Restaurants (DRI) is scheduled to report earnings before the bell, while FedEx (FDX) and Micron (MU) will report after the market closes.
According to analysts polled by Bloomberg, the parent company of Olive Garden, Darden Restaurants, should record gains of 91 cents per share on $ 1.98 billion in revenue.
FedEx is expected to earn $ 3.93 per share out of $ 17.75 billion in revenues, while analysts expect $ 2.95 per share gains over $ 8 billion in revenue for the Micron chip maker.
In addition, critical housing data will be released Thursday morning. Housing for November is expected to have risen by 0.2% to 1,223 million seasonally adjusted units, according to economists interviewed by Bloomberg. Data on housing was closely monitored by investors, as the recent slowdown in housing was seen as the first signs of economic softening. Furthermore, construction permits for November should remain unchanged since October.
And here's what caught the attention of the Yahoo Finance markets towards Myles Udland.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Market comments"data-reactid =" 25 ">Market comments
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Congratulations bitcoin bulls: it was exactly a year ago today – December 17, 2017 – that the price of & nbsp;bitcoin has reached the highest level& nbsp; of $ 20,000 per bitcoin. "data-reactid =" 26 "> Congratulations bitcoin bulls: it was exactly one year ago today – December 17th 2017 – that the price of bitcoin has reached the record level of $ 20,000 per bitcoin.
That was also the last time the bitcoin was really interesting.
As of Monday afternoon, the price of bitcoin was just over $ 3,500, good for a pop of nearly 10% on the day and a decline of about 82% in the last year. Measured from its most recent Saturday minimum, bitcoin prices fell by 84% from the peak reached last December 17.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Back when the prices of bitcoins and other cryptocurrencies stood for the moon, stocks were close to historic highs and ended & nbsp;one of the least volatile years ever recorded. In the end, 2017 was a great time to be invested in the stock market, but it was a very boring period to talk about investments in the stock market. "Data-reactid =" 29 "> Back when the prices of bitcoin and other cryptocurrencies were going towards the moon, the shares were close to historic highs and ended one of the least volatile years ever recorded. In the end, 2017 was a big moment to be invested in the stock market, but it was a very boring period to talk about investing in the stock market.
Crypto has filled that void with admiration.
Over the past two years, bitcoin prices have more than doubled, but the decline of the 80% observed in the last year has brought most of the outcry out of space. And with the unbridled stock market rush that captures investors' attention, bitcoin is no longer so interesting. (Source: Yahoo Finance)
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "But now, & nbsp;stocks are shaking& nbsp; and the strategists' drumbeat & nbsp;call the current bear market environment& nbsp; it's growing stronger. Investors are worried about the Federal Reserve, the end of the economic cycle and Trump's trade war with China, among other things. "Data-reactid =" 43 "> But at this time, stocks are shaking and the strategists' drumbeat calls the current environment a bear market is growing stronger. Investors are worried about the Federal Reserve, the end of the economic cycle and the trade war of Trump with China, among other things.
Follow the stock market and the financial markets in 2018 is fun. Following the cryptic market it is not.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Throughout the bubble burst of the 2017-18 cryptocurrency, & nbsp;the defenders of space have assumed a certain number of positions& nbsp; to justify why digital resources are here to say, with & nbsp;many simply claiming that prices do not count. "data-reactid =" 45 "> During the popping of the 2017-18 cryptocurrency bubble, space defenders took a series of positions to justify why digital assets are here to say, with many simply arguing that prices do not matter
<p class = "canvas-text canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "But how & nbsp;the layoffs started to hit& nbsp; the cryptocurrency space is hard to argue that prices are just a cosmetic distraction that true believers can freely ignore. The price of any financial activity is always important – to argue otherwise is simply to deny reality. "Data-reactid =" 46 "> But since the layoffs have started to affect the cryptocurrency space, it is difficult to argue that prices are only a cosmetic distraction, true believers can ignore freely, the price of any financial activity is always important – to argue otherwise is simply to deny reality.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "And as written by Bloomberg's Joe Weisenthal on Monday, & nbsp ;the price is the most important part& nbsp; of the bitcoin history. The highest prices for bitcoins and other digital assets motivate miners to create these new assets to continue their work. Lower prices make mining less profitable, potentially stopping the expansion of the network or making the network obsolete. Or as Weisenthal writes, making the crypt nothing but "a clean science project". "Data-reactid =" 47 "> And as written by Bloomberg's Joe Weisenthal on Monday, the price is the most important part of the bitcoin story. The highest prices for bitcoins and other digital assets motivate miners to create these new assets to continue their work. Lower prices make mining less profitable, potentially stopping the expansion of the network or making the network obsolete. Or as Weisenthal writes, making the crypt nothing but "a clean science project".
The Bitcoin historians will note that this is only the third worst decline in bitcoin history: in 2011 and 2013, bitcoin dropped more than 90% from peak to trough. But the public craze that accompanied the frenzy of 2017 and the crash of 2018 in the price of bitcoin and other cryptocurrencies certainly makes this the most noteworthy drawdown we have seen in the bitcoin space.
And while we were promised a lot of things during the most manic days of the crypto-currencies frenzy that broke out in mid-2017, the only story that ended up being really interesting was the price.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "At the end of 2017, & nbsp;he wrote& nbsp; that "if 2017 was about price craze with investors expressing regret at having lost this rally, 2018 could be the year when markets begin to understand exactly what all these things are for." "data-reactid =" 50 "> At the end of 2017, we wrote that" if 2017 was about price craze with investors who regretted having lost this rally, 2018 could be the year when markets begin to understand exactly what all these things are for ".
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Investors are still calculating which exactly cryptocurrencies and the blockchain is really for … It seems like every big company is "exploring"Blockchain technology, but it is not clear what this technology could actually do for their business." Data-reactid = "51"> Investors are still trying to understand what cryptocurrencies and blockchain are exactly. It seems like every big company is "exploring"Blockchain technology, but it is not clear what this technology could actually do for your business.
The whole point of a bank, for example, is to keep a centralized transaction log and keep track of who has money to do what, while the whole point of the blockchain is decentralizing ownership.
But also discussing examples of how blockchain applications may fail or succeed in a large business environment is so 2017. The fall in the price of these assets and the loss of value from space tell you more about the feasibility of these applications than to those of any consultant will.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Bitcoin and cryptocurrency and blockchain should have introduced a & nbsp;new digital revolution. Instead it was just another asset bubble. And it came out a year ago. "Data-reactid =" 54 "> Bitcoin and cryptocurrency and blockchain were supposed to usher in a new digital revolution, but it was just another asset bubble and it popped up a year ago.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Heidi Chung is a reporter for Yahoo Finance. Follow her on Twitter: @heidi_chung."data-reactid =" 55 ">Heidi Chung is a reporter for Yahoo Finance. Follow her on Twitter: @heidi_chung.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Follow Yahoo Finance on chirping, Facebook, Instagram, Flipboard, LinkedIn, isreddit."data-reactid =" 56 ">Follow Yahoo Finance on chirping, Facebook, Instagram, Flipboard, LinkedIn, isreddit.
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