It will take more than Friday’s big rebound to dispel fears of a bear market in equities as uncertainty over the Federal Reserve’s ability to rein in inflation without sinking the economy stokes fears of stagflation – a pernicious combination of slow economic growth and persistent inflation. Stagflation is “a terrible environment” for investors, typically … Read more
Shares of Affirm Holdings Inc. surged in after-hours trading on Thursday after the buy-it-now pay-later company reported better revenue and sought to reassure investors of its positioning in a time of recession. slow-down. Turnover at Affirm AFRM, +23.31% rose to $354.8 million in the third fiscal quarter from $231 million a year earlier, when analysts … Read more
A sell-off in a cryptocurrency believed to be pegged to $1 accelerated on Wednesday, briefly sending its price below a quarter of that value. TerraUSD traded as low as 23 cents on Wednesday, according to data from CoinDesk. As of 2:43 p.m. ET, it had partially rebounded to around 68 cents in volatile trading. A … Read more
One type of cryptocurrency, a so-called stablecoin, is supposed to maintain its value at $1. But on Monday, the third-largest stablecoin, TerraUSD, fell as low as 94 cents, prompting a flood of investors to sell their holdings. Stablecoins get their name because they are tied to the value of government-issued currencies, such as the dollar. … Read more
Text size Fidelity’s push to Bitcoin is controversial but could be lucrative for the company. Dreamstime.com Fidelity Investments shocked the retirement industry last month by deciding to make Bitcoin available in 401(k) plans. Add up the earnings that could pay off, and it starts to be less of a surprise. Fidelity is the nation’s largest … Read more