News affecting your trades: Bitcoin, Dow Jones, and more

 News affecting your trades: Bitcoin, Dow Jones, and more

News affecting your trades.

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Bitcoin surges to more than $17 000

The price on Bitcoin had a substantial increase to more than $17 000. This followed the news of a new Bitcoin fund from digital asset manager, Galaxy Digital, and the management company, Global Asset, approved by Canadian securities regulators. Due to macro-economic factors and large corporations getting involved in cryptocurrencies, Bitcoin is still experiencing bullish market conditions. In the last few months, Bitcoin has experienced an increase of 73% and during the past 24 hours, it has seen a 1,63% gain to a selling price of $17 001.

Dow Jones falls by 200 points premarket

Equities experienced mixed trading on major stock markets in the US, resulting in extended losses in the Dow Jones of more than 200 points. Continued concerns over new spikes in Covid-19 infections in both Europe and the US have greatly fuelled pessimism amongst investors. This is despite the news of effective Covid-19 vaccines. The Dow Jones fell 0,67% while the S&P 500 saw a decline of 0,51%. The Nasdaq 100, however, remained in positive territory, adding 0,3%. In addition, the euro increased by 0,19% against the US dollar.

More than 300 US firms shut down despite government loans

More than 300 US businesses applied for the Paycheck Protection Programme (PPP). These businesses have since filed for bankruptcy, reported the Wall Street Journal, citing analysed government data and court filings. These companies employed around 23 400 employees. It was stressed these businesses failed regardless of the PPP loans obtained.

Chris Louw

Featured Financial Writer for SA Shares - Read more about Chris's Bio -

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