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Why cryptocurrencies have gone from the next hot thing to a full-on meltdown

Why cryptocurrencies have gone from the next hot thing to a full-on meltdown

A Bitcoin ATM is seen at a subway station in Brooklyn Heights in New York City on June 13. Bitcoin and other cryptocurrencies have plunged in value in recent days. Michael M. Santiago/Getty Images hide caption toggle caption Michael M. Santiago/Getty Images A Bitcoin ATM is seen at a subway station in Brooklyn Heights in …

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BOJ maintains ultra-low rates, warns it is closely watching yen moves

BOJ maintains ultra-low rates, warns it is closely watching yen moves

BOJ keeps interest rate targets unchanged, as expected BOJ says watching impact of FX moves on economy No change to dovish policy guidance BOJ Gov Kuroda to brief media 0630 GMT TOKYO, June 17 (Reuters) – The Bank of Japan maintained ultra-low interest rates on Friday and its guidance to keep borrowing costs at “present …

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Ford CFO flags increase in car loan delinquencies

Ford CFO flags increase in car loan delinquencies

Slatestone Wealth chief market strategist Kenny Polcari discusses the Federal Reserve’s decision to raise rates. A rise in auto loan delinquencies, or late payments, may be the next signal that the U.S. economy is headed towards a potential recession, according to a new warning from Ford Credit, the automaker’s financing arm.   “We are seeing …

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Week of rate hikes has stocks on course for steepest slide since 2020

Week of rate hikes has stocks on course for steepest slide since 2020

Pedestrians are reflected in a window in front of a board displaying stock prices at the Australian Securities Exchange (ASX) in Sydney, Australia, February 9, 2018. REUTERS/David Gray/File Photo Register now for FREE unlimited access to Reuters.com Register Everyone except the BOJ is hiking Stocks sink as economy risks grow Yen slips as BOJ leaves …

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Severe weather delays create travel nightmare for Logan Airport passengers

Severe weather delays create travel nightmare for Logan Airport passengers

Travelers heading to or from Boston’s Logan International Airport on Thursday spent a significant amount of time either waiting on planes for a gate or waiting inside the airport terminal for their delayed flight to depart.Video from Sky 5 showed dozens of planes parked on Logan Airport taxiways, waiting for a gate for their arriving …

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Elon Musk Hints at Crypto Plans in First Twitter Meeting

Elon Musk Hints at Crypto Plans in First Twitter Meeting

Key Takeaways Elon Musk held a meeting with Twitter employees today to discuss plans for the social network following his takeover. Specifically, he discussed plans concerning the addition of crypto payments and plans to eliminate crypto scams. The buyout has not been finalized, but Twitter is providing Musk with data that will help the deal …

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A Recession Would Hurt Democrats. Some Warn It’d Also Hurt Democracy.

A Recession Would Hurt Democrats. Some Warn It’d Also Hurt Democracy.

Jerome Powell, the chairman of the Federal Reserve, made the understatement of the year on Wednesday when he noted offhandedly to reporters, “Clearly, people do not like inflation.” And how. According to Fox News’s latest national poll, 41 percent of registered voters said that “inflation and higher prices” represented the most important issue influencing their …

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Here's what Elon Musk just told Twitter employees

Here’s what Elon Musk just told Twitter employees

Meeting has ended and employees are worried about layoffs The all-hands meeting concluded around 1 p.m. Eastern Time. According to a source, the majority of the reactions on Twitter’s Slack messaging board were negative in nature. Employees expressed that many of their worries about layoffs, remote work, a reduced focus on content moderation and inclusion …

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As Gasoline Prices Spike, Demand Destruction Spreads, with Long-Term Implications

As Gasoline Prices Spike, Demand Destruction Spreads, with Long-Term Implications

Wait… gasoline exports are rising. By Wolf Richter for WOLF STREET. With the average price of gasoline edging over the $5-mark on Monday, up 63% from a year ago, according to EIA data, and having gone over the $4.20-mark for the first time ever in mid-March, people are already driving less, and households are prioritizing their most fuel-efficient …

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Trader Peter Tuchman works on the floor of the New York Stock Exchange as stocks are opening broadly lower on Wall Street as traders worry about the impact on companies of a slowdown in China's economy.

S&P 500, Dow, Nasdaq fall as rash of rate hikes fuel recession fears

Wall Street stocks plunged after a handful of central banks around the world followed the Federal Reserve and raised interest rates to stymie soaring inflation. The Standard & Poor’s 500 index, already in a bear market (defined as at least 20% below its record high), closed down 123.22 points, or 3.25%, at 3,666.77. The Nasdaq, …

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