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...The benchmark S&P 500 fell 0.3 per cent in Wednesday afternoon trading, dragged lower by weakness in the tech sector. Four of 11 sectors made gains, with utilities faring best....
...In currency markets, the strong retail sales figures boosted the US dollar index, which tracks the world’s dominant currency against six international peers....
...In government bond markets, the policy-sensitive two-year Treasury yield increased 0.04 percentage points to 4.58 per cent....
...In January last year, the network experienced roughly 250,000 transactions per day. Fast forward to the latest figures and the network is frequently processing more than 500,000 transactions....
...Expectations of fewer US rate cuts have also sparked a slump in emerging market currencies against the dollar, prompting interventions by Asian central banks, including Indonesia and South Korea....
...US stocks closed lower for the third session in a row on Tuesday after Federal Reserve chair Jay Powell warned interest rates are likely to stay at current levels for “longer than expected” to tame inflation...
...S&P 500 futures fell 1.3 per cent....
...At the end of last year, futures markets had priced in six interest rate cuts for the US in 2024....
...Wall Street’s benchmark S&P 500 rose 0.1 per cent in early trading in New York, while the tech-heavy Nasdaq Composite was flat....
...The country’s Kospi index shed 1.3 per cent in early trading, while the won was the only major Asian currency to rise against the dollar, edging up 0.1 per cent to Won1,350.15....
...Most of the nearly $500bn increase in assets under management in the first quarter was due to rising equity markets. In the US, the S&P 500 had its best first quarter since 2019....
...The two-year Treasury yield, which moves with interest rate expectations, fell 0.02 percentage points to a one-week low of 4.58 per cent....
...Much like the US tech giants hauling the S&P 500 higher, bitcoin is also dragging other prices along with it....
...The US group said on Thursday it would waive fees for 60 days for customers wanting to trade cryptocurrencies on its professional market, if they have traded more than $500,000 a month on a rival exchange...
...Wall Street’s benchmark S&P 500 was down 0.3 per cent shortly after the opening bell in New York, pulled lower by declines for megacap technology stocks....
...MTN Nigeria announced last September it would switch to American Tower Corporation from IHS Towers for leases of 2,500 towers across the country on contracts set to lapse this year and in 2025....
...The EU’s Markets in Crypto Assets will start taking effect towards the latter half of the year; in the US half the CFTC’s actions last fiscal year were taken against digital assets....
...“We do not want, and will never accept, a situation where bitcoins are confiscated by the UK and not returned to us.” UK authorities have not made clear how they will deal with the seized bitcoin....
...BlackRock’s bitcoin exchange-traded funded has reached $10bn faster than any US ETF in history, fuelled by a rally that continues to send the world’s largest cryptocurrency to record heights....
...One way to see this is that other currencies have weakened against the dollar in a similar way as the yen. The US dollar index is up 3 per cent this year....
...The US S&P 500 was little changed following the previous day’s losses....
...In currency markets, a measure of the dollar’s strength against a basket of six international peers was flat on the day....
...US stocks opened higher on Thursday after the Federal Reserve’s preferred measure of inflation fell to 2.4 per cent in January, easing investors’ concerns about a rebound in price pressures....
...Likewise if we want to make a relative call, say against a S&P 500 fund....
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