Spreadex Market Update

Shaky open for US as Bitcoin plummets



A great start to the week looked to continue for the US, with both the Dow and S&P futures in the green this morning.

However, the Dow and S&P 500 both opened in the red, halting their successful open records.

With the Dow down 0.14%, and the S&P 500 fighting to stay level, both indices are going to need a strong afternoon performance to maintain the momentum they’ve gained over the last week.

What was looking like a mundane performance from Europe this morning has elaborated into a decent afternoon, as the FTSE breaks 7105, followed by the CAC, up 0.32%.

The Dax, even though up 0.08%, on paper looks like a poor performance in contrast, but taking into account Germany’s announcement that their industrial output has fallen 1% in April, the Dax has competently weathered the storm surrounding this news.

Antithetically, cryptocurrencies after a strong showing yesterday have manged to undo their previous positives, with Bitcoin down 10.48%, and Ethereum down 11.98%.

Numbers that should be staggering for a single day’s performance, are no longer a shock to those of us invested in the crypto universe. If anything, a volatile drop after a good previous day is now something to be expected in this anomalous market.

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