Stocks and cryptos are down today with Nasdaq in particular losing some 5% following a stratospheric rise.
The $2.3 trillion Apple lost about 2% while Tesla went minus 5% with Shopify and other likewise tech stocks also falling.
You can just about see the relatively big red candle on the daily with Nasdaq experiencing one of the biggest bull run in history.
The March crash looks like the biggest, but the recovery has been so swift with the index hitting new highs.
Just what direction this will take now is to be seen, but for today, cryptos are down as well.
What triggered this is not too clear with it potentially just a correction, but bitcoin for once can feel a bit relevant as they appear to be leading.
Almost all cryptos are down however, and the reason it may be coinciding with a fall in stocks is probably because the two main cryptos are now more and more finding their way to traditional investment portfolios.
While for stocks, the government machinery has finally changed its attention to the economy and as you’d expect, they ain’t saying any nice things.
“Rishi Sunak’s leaked notes reveal tax rises ARE on the way,” shouts The Sun. “Bank of England warns of ‘scarring’ to the UK economy,” says City AM. “Brazilian economy is back to 2009 size, following a 11,4% contraction in the second quarter,” says Brazilian local press.
You get the picture. The narrative has changed. It’s not rarona that is scary now. You can imagine Boris: ‘we gota be tuff or inflation phew phew yer muneh.’
You pay now peasants for the pleasure of your three months
house arrest holiday. And you can be sure this time they won’t target the 9-5 PAYEs who got their luxury imprisonment covered fully. Nah, socialism is selective while claiming all equal. When it comes to taxes however, equality stops at: whos your vote base ‘doners.’
Inflation is expected to rise as well so we know the answer to who are the ‘doners’ with Trump blaming polls for the Nasdaq fall.
“Do you notice that any time Fake News Suppression Polls are put out, like
Fox News, the Stock Market goes DOWN. We are going to WIN!” – Das presidentes.
Fox apparently said bad things as key states are leaning towards ‘we gone raise your taxes’ Biden.