#recession … #Fed Pushing on a String edition t.co/7VF5XXIZCK pic.twitter.com/Pe0Nsvjjx1
— Invariant Perspective (@InvariantPersp1) January 24, 2022
To wit, the Nasdaq 100 just did something it hasn’t done since the aftermath of the internet bubble: fall more than 1% in every session of a week. It doesn’t count as a superlative because Monday was a holiday. But for investors caught up in the selloff, it felt like something shifted.
A full week of big down days hasn’t happened since the dot-com bubble burst, first in April 2000 and then in September 2001. Back then, the Nasdaq went on to fall another 28% before the market bottomed roughly a year later.
finance.yahoo.com/news/nasdaq-100-unrelenting-drops-ring-214018521.html
Jeff Bezos shed $20 billion from his fortune. Changpeng Zhao of Binance dropped $17.7 billion, while Mark Zuckerberg’s wealth fell $10.4 billion. It was a painful week for billionaires as …
“Margin positions being liquidated caused a wave of additional sell pressure, as assets that had been held as collateral were forcibly sold to pay for margin loans,” said Hayden Hughes, chief executive officer at Alpha Impact in Singapore.
Bitcoin’s decline from its peak has wiped out more than $600 billion in market value, and over $1 trillion has been lost from the aggregate crypto market. While there have been much larger percentage drawdowns for both Bitcoin and the aggregate market, this marks the second-largest ever decline in dollar terms for both, according to Bespoke Investment Group.
Bitcoin fell as low as $34,042.78 Saturday, a drop of 7.2%, before paring most of those losses. Other digital assets also slid, with Ethereum down 12%. Solana and Cardano each fell at least 17%, according to Coinbase.
www.yahoo.com/now/bitcoin-extends-slide-fallen-more-101904421.html