Everything, almost literally everything, is down this year just in time for Christmas. The DOW, NASDAQ, S&P 500, and the majority of the crypto markets are all bleeding out day after day, with Bitcoin seeming to be walking down the stairs back to $3,000 and some analysts predicting sub-$2000 levels in the near future.
In technology news, the Huawei Chief Financial Officer Meng Wanzhou was arrested in Canada this week on US charges of possibly violating sanctions on Iran. Huawei stock can’t be found on any market, though – apparently they’re opposed to the idea of publicly issuing shares and are known for a high degree of secrecy, making them one of the largest private firms in history, whose equity is owned by its Chinese employees alone. Employees outside of China are not allowed to own any stake in it.
It’s difficult to say what exactly is driving the economic downturn we’re witnessing. We’d love to make guesses, but we’re not here to speculate. The news of the day is bad news, bad news, bad news. If you’re holding anything it’s probably losing value, except the euro, which appears to be experiencing a slight increase against the dollar, as seen here:
The NASDAQ seems to be shedding points like nobody’s business, although a few companies including Stamps.com and MongoDB saw some upward momentum.
But most of the top 100 on NASDAQ saw some form of loss over the past five days.
Over in Dow Jones territory, a 1000 point loss had been experienced over the past three days at time of writing. It’s notable that a mild resurgence occurred over the morning,