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Just as the European stock market is showing a great deal of health, there has been a rub-off on those in the US.
It is very rare for Bitcoin to decouple from the rest of the market, especially for the most prominent altcoins.
While investors are looking to brace up for any potential interest rate hike in the future, dependence on earnings and Wall Street performance is what most stocks need to recoup all losses accrued in January.
JPMorgan analysts downgraded FB stock from overweight to neutral on Thursday and lowered their price target from $385 to $284.
GameStop has entered a new partnership with blockchain platform Immutable X, following plans to launch its NFT marketplace later this year. The platform discloses $100 million fund support for NFT content creators and tech developers.
Despite the encompassing growth that marked US market and tech stocks, significant losses were still recorded.
PayPal stock dropped approximately 50.98%, 29.70%, 41.91%, and 31.05% in the past year, YTD, three months, and one month respectively through Tuesday.
Pichai also spoke on Web3, stating that Alphabet is “definitely looking at blockchain”.
Three straight sessions of gains show that investors are gaining confidence in market participation once again following heavy sell-offs in the month of January.
Under the asset purchase agreement, Silvergate paid $50 million in cash to Diem and also issued 1,221,217 of its class A shares.
FTX CEO Sam Bankman-Fried said that he shall be using these funds for expanding the global reach. In less than eight months, FTX has raised a staggering $1.8 billion with company valuations growing 2x.
Beyond Europe, the outlook from other global markets is also impressive as investors go on an accumulating spree in order to par off some losses experienced all month.
The market continues to remain volatile amid the Fed commentary earlier this week. However, US GDP numbers for Q4 2021 are much better than expected.
CEO Tim Cook said the company’s supply chain woes are not as stringent for the quarter as against the September quarter.
In addition to the most recent decline, TSLA has dropped more than 21% since the year started.