Volatility of the stock market not over

According to Stuart Kaiser, head of Equity Derivatives Research at UBS, the bottom of the stock market has not been in yet. In his last interview with Yahoo Finance he stated that more volatility to the downside can be expected in the 2022, due to unexpected earnings, increasing inflation and possible interest rate hikes by Fed.

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FTSE continues to drop

FTSE 100 stock index fell nearly 2% below 6,900, putting significant selling pressure on London’s stocks. Concerns about the interest rate hikes to control inflation continue to hurt markets. Moreover, the effect of the UK’s questionable fiscal strategy on global economic growth continued to dominate sentiment.

DAX hit 12,000 mark

European equities markets declined sharply, with the German stock index DAX hitting a two-year low of 12,000. The stock index is pressured by the hawkish monetary policy of central banks, which could draw DAX even lower.

MOEX continues to tumble

The ruble-based MOEX Russia dropped by 7% to about 1,925 on Tuesday, the lowest level in more than five years. MOEX is down 55% from its all-time high at 4,271.  Concerns about the worsening Russian-Ukrainian conflict and nuclear threats persist.

Nikkei falls by 2.66%

The Nikkei 225 Index dropped 2.66% to 26,430, finishing at its lowest point in more than two months and following the lead of a downbeat Wall Street market. Increased inflationary pressures, increasing interest rates, and concerns of a global recession continue to put pressure on risk assets.

European stock indices tumble

The sell-off on major European markets continues on Friday as investors fear the tightening wave of monetary policy would harm global growth. After dropping below 400 points on Thursday for the first time since January 2021, the STOXX 600 is down approximately 0.7%. DAX 40 is down 0.8%, setting a new two-month low.

MOEX tumbles after Putin’s news

The MOEX Russia Index fell as much as 10% before reducing its losses to 3% at 2,150. The index continued its 9% decline from the previous session as President Putin proclaimed the nation’s first mobilization since World War II.

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US GDP shrank by 0.6% in Q2

Following a quarterly decline of 1.6% in Q1, the US economy shrank by an annualized 0.6% in Q2 2022. This matches the second estimate and proves the US had, in fact, entered a recession. US stock indices continue to dive lower.

German inflation is sky-high

The rate of consumer price inflation in Germany increased to 10.0% year-over-year in September 2022. Inflation surpassed market predictions of 9.4% and marked the highest level since 1951 when it peaked at roughly 11.0%.

Crypto Punks NFTs traded 1m ETH

Crypto Punks, the most popular NFT project, just reached an important milestone. The total trading volume on OpenSea crossed 1 million Ethereum today, which is more than $1.3 billion at ETH’s price now. On average, a Crypto Punk NFT sells for approximately $100k, but someone bought Crypto Punk 2924 for $4.3 million today.

FTSE continues to drop

FTSE 100 stock index fell nearly 2% below 6,900, putting significant selling pressure on London’s stocks. Concerns about the interest rate hikes to control inflation continue to hurt markets. Moreover, the effect of the UK’s questionable fiscal strategy on global economic growth continued to dominate sentiment.

WTI Crude oil recovers losses

Worries about limited global supply helped WTI crude futures rise 2% to $80, pulling away from 9-month lows at $76 earlier this week. Hurricane Ian caused a reduction in US crude output of around 190,000 barrels per day, or 11% of the Gulf’s total.

GBP remains volatile

The Bank of England announced that it would start making temporary purchases of long-term UK government bonds on September 28 in order to restore orderly market conditions. The British pound remained volatile, first rising to above $1.08 before dropping to $1.05.

News

The US imposes new sanctions on Iran oil

The sanctions affected companies involved in the petrochemical and oil trade, including companies based in China.
Stanley Druckenmiller disappointed by Fed and favors crypto
BTC
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Stanley Druckenmiller disappointed by Fed and favors crypto

After Paul Tudor Jones showed sympathy for crypto, another billionaire joined him. Stanley Druckenmiller thinks cryptos will have a comeback.

DAX erases Wednesday’s gains, remains bearish

Another batch of week data and rising inflation sent EU stocks lower.

UK records highest food inflation in history

Food prices are rising globally along with energy prices. The UK is now seeing the highest rate of inflation in this category.