After its new all-time high of almost $67,000, Bitcoin (BTC/USD) lost over 3% over the past 24 hours. In the top 10, seven other coins also lost value, probably due to profit taking after the recent rally. Two notable exceptions were Polkadot (DOT/USD) and Solana (SOL/USD), with the latter up more than 12%.
Cardano (ADA/USD) will undergo a hard fork at approx. 21:44 UTC today. The upgrade should not last long and trading will likely not be affected.
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During after-hours trading on Thursday afternoon, Snap Inc. shares dropped by more than 20%. The creator of Snapchat predicted a weaker than expected holiday season, blaming Apple for imposing privacy changes on iOS devices that hurt their ability to target and measure digital advertising.
Dating company Match Group, which owns Tinder, OKCupid, Hinge, and match.com, gained 10.3% yesterday after Google announced plans to reduce its fee on the subscription-based apps in Google Play.
The major US stock indices were mixed yesterday. DJ30 was slightly in the red, while NASDAQ100 gained 0.6%. The tech-heavy index’s top performers were fitness company Peloton Interactive, Netflix, and Tesla with gains of 4.9%, 4.4%, and 3.4% respectively.
One of the biggest losers on NASDAQ100 was PayPal, whose share price dropped by 5.8%. Investors reacted negatively to the news that the payment processor was in talks to buy Pinterest.
IBM dragged DJ30 down with a notable loss of 9.4% after inconsistencies with revenue expectations for Q3. The selloff that followed hurt the whole performance of the DJ30 index. Today, Federal Reserve Chair Jerome Powell’s participation in a finance conference might impact US markets. He will be taking part in a virtual panel discussion hosted by the South African Reserve Bank.
After dropping to almost $80 yesterday, oil ultimately managed to end the day above $82, but was still in the red throughout Thursday. Today, oil prices are still dropping away from their recent 7-year peak.
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