- March 8, 2021
- Posted by: Trading
- Category: News
Sharp declines on Wall Street: NASDAQ fell 3.5%, Coinbase crypto exchange is about to be traded on NASDAQ.
Wall Street shakes again and recorded sharp declines in the lock: NASDAQ fell 3.5% last night (Thursday), S&P 500 lost 2.5% and Dow Jones fell 1.8%.
10 year US bond yields rose 15 basis points to more than 1.5%;
Gamestop jumped by 19.9% and completed a 144% increase in two days. The stock, which has lost about 90% of its value since climbing to a high in late January, recorded a wild jump of 104% in Wall Street trading on Wednesday. Last night the explosion continued upwards, with increase of more than 23% to a price of about $ 112.
The price of WTI crude oil rose by 0.5% and was set at $ 63.5 per barrel. Gold prices fell 1.3% ($ 22.50) to $ 1,775.40 an ounce.
Coinbase crypto exchange is about to be traded on NASDAQ through direct listing. In the direct listing of its shares for trading, Coinbase’s market capitalization may be estimated at more than $ 100 billion. According to the company’s report to the US Securities and Exchange Commission, most of its revenue comes from trading in Bitcoin or Ethereum on its platform.
The US jobs market appears to be returning to growth as initial weekly unemployment claims dropped by 111,000 to 730,000. This is the lowest weekly rate since last November. Experts believe that this trend will continue as people are going out and spending more.
In Tokyo trading as of 08:25 am, the EUR/USD was trading at $1.21579, down 0.13%; the pair has ranged from a peak of $1.21583 to a low of $1.21364 in today’s session. The GBP/USD was lower at $1.3947, a loss of 0.44%, off the session high of $1.39410. The USD/JPY was lower at 106.193 Yen, down 0.03%.