Your trading week in summary

 Your trading week in summary

Your trading week in summary

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Bitcoin price sees a momentous high of $12 000

During the week, the price on Bitcoin soared to a high of $12 000 due to a substantial spot market volume that was evident by the premium found on spot exchanges, as compared to futures exchanges.

Dow Jones saw a substantial jump of 250 pts

With the stimulus deal leaning towards the realm of possibility, the Dow Jones saw a point gain of 276 along with the S&P having traded around 2,06% in the green. During the week, prior to the final debate between United States President, Donald Trump, and former Vice President Joe Biden, Trump stated that he would be willing to further increase the economic stimulus to over $2,2 tril.

UK regulators fine Goldman Sachs fine over scandal

The global investment banking giant, Goldman Sachs, was heavily fined for its involvement in a multibillion-dollar embezzlement scandal involving the Malaysian state development corporation, 1MDB. Malaysian authorities claimed that from the $6,5 bill money raised through bond sales to help the corporation, $2,7 bill of this had been embezzled by Goldman Sachs, which was also fined for risk management failures associated with the scandal.

European countries start to reimpose restrictions as Covid-19 infections increase

During the past week, coronavirus cases have reached record proportions. Twenty-two European countries have reported their highest daily infections, the highest being the UK. Numerous countries have started reimposing stricter lockdown regulations in an attempt to curb the spread of the virus in what is believed to be a second wave. WHO regional director for Europe, Dr Hans Kluge, issued a warning last week in which he warned of ‘exponential increases’ of infections across Europe.

Chris Louw

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

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