While several sectors have been in bear market territory for months, Monday’s 3.8% drop in the S&P 500 made it official.
Monday’s rash of selling was spurred on by a quickly unraveling situation in crypto. Plunging markets have spoiled the appetite for risky, volatile assets like tech stocks and crypto…
The sell-off is so deep at this point it’s threatening the livelihood of the companies and investors that went all in.
Crypto lender Celsius Network was forced to freeze withdrawals as margin calls forced clients to liquidate their assets.
And trading platform Coinbase is set to lay off 18% of its staff to free up capital through the downturn it’s calling a “crypto winter.”
It’s impossible to tell just how deep this plunge will take the market…
But that doesn’t mean there aren’t signs that traders can use to spot a market bottom…
3 Names to Watch as Markets Gap Down June 10, 2022
Traders always need to be on the lookout for stocks on the move, which is why I put together the New Money Crew Weekend Watchlist every Friday! Continue Reading
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