Yesterday, the S&P 500 dropped more than 3 percent, continuing a long decline for stocks despite investors’ hopes for a rally. This places the index down 24 percent from its previous highs in January, further pushing stocks into bear market territory. Stock markets turn from bulls to bears once they drop more than 20 percent from recent peaks, potentially indicating that the economy is headed towards a recession. In fact, if losses continue at this rate, the S&P could experience Continue reading
Over the last few years cryptocurrency has gone from the fringes of finance to the mainstream, complete with celebrity Super Bowl ads and widespread interest from Wall Street. But while more people know about crypto than ever before, that doesn’t necessarily mean that it’s a safe investment. According to the Federal Trade Commission (FTC), Americans have lost more than $1 billion to cryptocurrency scams since the beginning of last year. In fact, crypto con jobs now account for a fourth Continue reading
Share prices plummeted across all three major stock indexes last Friday, wrapping up a terrible month that brought markets to their lowest levels since the start of the pandemic. On that single day, the Dow Jones Industrial Average fell 939 points while the S&P 500 dropped 155 points, amounting to respective contractions of 2.8 percent and 3.6 percent. Worst of all was the Nasdaq, which shrank by 4.2 percent after dropping 536 points.
The numbers look even worse when Continue reading
The company formerly known as Facebook is going through something of an identity crisis. Rebranded as Meta last year, the tech giant changed its name in order to signal its transition from social networks to the virtual world of the “metaverse.” Although the company has staked its future on this unproven concept, this week Meta had to contend with the consequences of a miserable earnings report that painted a gloomy picture of its present situation.
In the most Continue reading