Friday, July 1, 2022

US Stock Market Nosedives Deepest Since 2020 Investors Dump Bitcoin Too

Due to Corona, the US stock market has registered a decline for the third consecutive week. It was the worst week since March 2020 for the Nasdaq Composite Index and the S&P 500 (both are US stock market indexes). The Nasdaq lost 2.7% on Friday, while the S&P 500 was down 1.89%. The Nasdaq Composite […]

Due to Corona, the US stock market has registered a decline for the third consecutive week. It was the worst week since March 2020 for the Nasdaq Composite Index and the S&P 500 (both are US stock market indexes). The Nasdaq lost 2.7% on Friday, while the S&P 500 was down 1.89%. The Nasdaq Composite Index is down 7.55% and the S&P 500 is down 5.7% this week.

 

Investors are not willing to take risk at the beginning of the year. At the same time, the US Federal Reserve may raise interest rates several times this year to deal with inflation, due to which the market is also affected.

Its effect will also be seen on the Indian market,

Anuj Gupta, Vice President (Commodity and Currency), IIFL Securities says that the effect of the fall in the US stock market will be seen in India as well. Due to this, there may also be a decline in NSE and BSE in the coming days. According to Anuj Gupta, due to the fall in the US stock market, the stock market of other countries is also seeing pressure.

Investors scared of interest rate

The Federal Reserve may raise interest rates this year to control inflation.

Last week, Federal Reserve Chairman Jerome Powell called rising inflation a serious threat to the country’s economic recovery. After which investors are feeling that the Federal Reserve will raise interest rates several times this year to deal with inflation. Due to this also the market has been affected.

The price of bitcoin also decreased by 2.50 lakh

, along with the stock market, there has also been a huge turmoil in the crypto currency market. The price of the most talked crypto bitcoin has decreased by 8.69% tonight till 3.40. The price of bitcoin has declined by Rs 2.62 lakh. At present, the price of one bitcoin has reached Rs 27.64 lakh, which was Rs 33.73 lakh 6 months ago.

 

Crude oil prices also fall

On Friday, crude oil prices fell by 0.55% in the international market.

Crude oil prices also declined on Friday. According to experts of RCB Capital Markets, crude oil prices fell 0.55% to $ 87.89 per barrel in the international market. In the US as well as Europe, the STOXX Europe 600 fell 1.8%. Apart from this, China’s Shanghai Composite Index and Japan’s Nikkei also declined.

The Indian stock market also declined for the fourth consecutive day. On Friday, the Bombay Stock Exchange (BSE) Sensex fell 427 points (0.72%) to 59,037 and the National Stock Exchange’s Nifty fell 140 points (0.79%) to 17,617. However, the Sensex had broken more than 700 points in the morning session.

 

 

 

 


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