World Market News of the 10 January with FXOpen
BITCOIN SLIDES AFTER FALSE ETF APPROVAL POST
Bitcoin slid Tuesday after the Securities and Exchange Commission’s social media account — which was compromised — sent a false social media post stating the regulatory agency had approved a long-awaited bitcoin exchange-traded fund. Immediately after the first post, the world’s largest cryptocurrency jumped to as high as $47,901 to its highest level since March 2022, but later traded lower by 3%. Source: CNBC
MARKETS RETREAT
Wall Street’s benchmark S&P 500 index ended with small declines on Tuesday, closing 0.15% lower, while the Dow Jones Industrial Average
shed 0.42%. The Nasdaq Composite, however, inched 0.09% higher by close as it bounced off a 0.9% slide from earlier in the session. Shares of tech stocks continued to rise and stave off bigger declines. Europe’s Stoxx 600 also ended 0.17% lower as most its main sectors fell along with other regional bourses. Source: CNBC
WORST DECADE OF GROWTH
The World Bank has forecast the global economy will likely grow 2.4% in 2024. That’s lower than the 2.6% recorded in 2023, and will be the third year in a row where growth slows, according to the organization’s “Global Economic Prospects” report. Sluggish global trade and tight financial conditions will hit developing economies the hardest, the World Bank says. Source: CNBC