Always remember that investments can go down as well as up in value, so you could get back less than you put in. A rule of thumb is to hang on to your investments for at least five years to give them the best chance of providing the returns you are hoping for.
Well, this sucks! The indices gave us a little hope on Monday but took it all back yesterday.
As previously mentioned, everyone is anxiously waiting for the Fed’s decision on interest rates today. Analysts expect interest rates to rise by 0.75%. We’ll let you know how it goes and how it affects stock prices.
In the meantime, it’s important to let you know that all the indices on our watchlist below are now trading well below their 50-day and 200-day moving averages. Be careful what you put your money in *wink*. Here are the closing prices:
All 11 S&P 500 sectors closed red yesterday, with Real Estate (XLRE) and Materials (XLB) taking the biggest hits at -2.63% and -1.90%, respectively.
Bitcoin and Ethereum are both down about 2% to $18,800 and $1,300, respectively, in the last 24 hours.
The UK’s FTSE 100 is up 0.60% this morning! The European STOXX 600 index is up 0.20%, while Germany’s DAX is down about 0.25%.
Russian President Vladimir Putin has ordered the partial mobilisation of the Russian population, including ordering military reservists into active service and a boost to weapons production. CNBC has more.
The dollar hit a new 20-year high this morning after Putin’s announcement. The dollar is widely perceived as a haven currency during times of geopolitical tension and economic stress. More on The FT.
The Bank of England’s Monetary Policy Committee will announce its latest decision on interest rates tomorrow, Thursday, with analysts divided over whether to expect a hike to interest rates of 50 or 75 basis points. More on CNBC.
Ford Motor’s stock suffered its worst day since 2011 after its cost warning, shedding $7 billion in market value. Shares of Ford closed yesterday at $13.09 apiece, down by 12.3%. CNBC has more.
Nasdaq, the second-largest US stock market operator, announced yesterday that it was starting a cryptocurrency custody service to cash in on the demand from institutional crypto investors. CoinDesk has more.
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