Wall Street went red on the eve of the election results (Getty)
US stocks fell Wednesday after three consecutive days of gains without a decisive decision on the matter mid-term congressional electionsThe cryptocurrency market is nervous as if it hasn’t happened in weeks.
During trading on Wednesday, the Dow Jones Industrial Average lost nearly 2% of its value, the S&P 500 fell more than 2%, and the Nasdaq lost nearly 2.5%.
communication Cryptocurrenciesled by “Bitcoin”, its decline during trading on Wednesday, with the announcement of “Binance”, the largest cryptocurrency exchange in the world, its withdrawal from the deal to acquire the company “FTX” FTX, its smaller competitor, which threatens the latter is approaching collapse.
It lost the major cryptocurrencies more expensive And a market cap of more than 17% of its value, having traded below $ 16,000 per unit, in the cryptocurrency’s most famous moment of weakness since November 2020.
The dollar rose against most major currencies on Wednesday after mid-term US Congressional election results showed a lower-than-expected lead for Republicans at the end of today’s trading, which shifted focus. of investors on inflation data due to be released tomorrow Thursday.
The dollar has fallen again, away from the highest levels of recent decades in recent weeks, in broad profit-taking, after a month-long rally, with growing speculations that the Federal Reserve is close to a new interest rate hike. which in turn strengthen the dollar.
The price of the euro hit one dollar, while the pound against the dollar fell to $ 1.1337 after a series of three-day gains amid investor concerns over the currency’s inability to break through the barrier. $ 1.16 the day before.
In a related context, the price of gold fell as the dollar rose, moving away from its highest level in a month as investors awaited the release of consumer price data.
Gold lost 0.4% of its value on spot trades, posting $ 1,705 an ounce, and its futures contracts lost 0.1% upon settlement, to $ 1713.70.
Gold prices jumped early in the session to their highest level since October 6, breaking above the $ 1722 an ounce level.
The price of oil fell about three dollars a barrel today, Wednesday, after data showed that U.S. crude oil inventories rose more than expected and amid fears of falling fuel demand due to rising oil prices. cases of Covid-19 epidemic in China, the largest importer of crude oil in the world.
Brent crude futures fell $ 2.71, or 2.8%, to settle at $ 92.65 a barrel, and US West Texas crude futures fell $ 3.08, or more. 3.5%, to $ 85.83 per barrel. The two benchmarks fell by around 3% on Tuesday.
Data from the US Energy Information Administration showed crude oil inventories rose 3.9 million barrels last week to 440.8 million barrels.
Investors, lawmakers and economists eagerly await Thursday’s consumer price data in an attempt to anticipate the Fed’s move in its latest meeting this year, scheduled for December 14.
