Why Margin Calls and Bot Liquidations Are Roiling Crypto

The pain now buffeting DeFi apps was triggered after centralized crypto lenders Celsius Network and Babel froze deposits and the rumored collapse of fund Three Arrows Capital sent crypto prices down by double digits over the course of a week. Celsius had worked with many DeFi apps to earn the high returns it offered. Much … Read more

Work From Home to Save Fuel, Pakistan’s Central Bank Tells Staff

Pakistan’s government has already ordered shopping malls and factories to shut early in various cities including Karachi, Lahore, Islamabad and Rawalpindi, and cut the working week by a day. Prime Minister Shehbaz Sharif’s administration has increased pump prices by as much as 83% in less than a month as he tries to curb subsidies and … Read more

Burning Cash, Ultrafast Grocery Delivery Ramps Up in India

(Bloomberg Businessweek) — A new TV commercial in India features white-clad mourners grieving at the funeral rites of a departed loved one. The object of their grief is a refrigerator. “”—or “What use is a refrigerator?”—ask matching full-page ads for the campaign touting instant grocery brand Dunzo, which offers delivery of fresh items in minutes. … Read more

This first half ranks among the market’s worst on record. Here’s what typically happens next

The first half of this year ranks among the worst on record for stocks, with the S & P 500 losing more than a fifth of its value. But, the selling could ease a bit in the second half, if history of similar terrible starts is any guide. Mounting fears of a recession caused by … Read more

This cloud company is a buy thanks to its strong margins and moat, Goldman Sachs says

A confluence of positive factors could drive strong gains for Veeva Systems, a cloud-based software provider for the life sciences industry, according to Goldman Sachs. Goldman initiated coverage of the stock with a buy rating and a price target of $253 per share, which implies upside of about 34% from Wednesday’s close. The company is … Read more

Russia’s ruble is at strongest level in 7 years despite sanctions

Russian one ruble coin and Russian flag displayed on a screen are seen in this multiple exposure illustration photo taken in Krakow, Poland on March 8, 2022. Jakub Porzycki | Nurphoto | Getty Images Russia’s ruble hit 52.3 to the dollar on Wednesday, an increase of roughly 1.3% on the previous day and its strongest … Read more

Bitcoin Is Leading Indicator of Stock-Market Bottom, Mobius Says

(Bloomberg) — If you’re a stock trader, you should probably be turning your attention to cryptocurrencies right about now. That’s according to Mark Mobius, who co-founded Mobius Capital Partners after spending more than three decades at Franklin Templeton Investments.  “Cryptocurrencies are a measure of investor sentiment,” he said in an interview Wednesday. “Bitcoin goes down, … Read more

Stock futures are lower after major averages dip, investors mull slowdown

S&P 500 futures were lower Wednesday night after the major indexes slipped into the red at the end of regular trading and investors weighed the likelihood of a recession after Federal Reserve chair Jerome Powell acknowledged it’s a possibility. Futures tied to the broad market index fell 0.1%, while the Dow Jones Industrial Average futures … Read more

Powell tells Congress the Fed is ‘strongly committed’ to bringing inflation down

Federal Reserve Chairman Jerome Powell told congressional lawmakers Wednesday that the central bank is determined to bringing down inflation and has the ability to make that happen. “At the Fed, we understand the hardship high inflation is causing. We are strongly committed to bringing inflation back down, and we are moving expeditiously to do so,” … Read more