- Buy Crypto
- Markets
Futures- Spot
- Copy Trade
- Earn
- More
Tech Stock Sell-Off Worsens in US Stock Market, Rate Cut Expectation Setback Exacerbates Market Panic
BlockBeats News, November 14, Friday U.S. Session: A sell-off led by tech stocks deepened in the U.S. stock market, with major benchmark indices breaking below support levels, as market concerns grew over the possibility that the Fed may not cut interest rates at the next meeting.
The S&P 500 Index opened 0.8% lower on Friday, extending the tech-led plunge and dropping below the 50-day moving average. The tech sell-off also weighed on the Nasdaq 100 Index, which opened down 1%. The blue-chip Dow Jones Industrial Average fell 1.1%. The CBOE Volatility Index rose to above 22.
Brian Jacobsen, Chief Economic Strategist at Annex Wealth, said, "The market always has things to worry about. The current concern about the Fed pausing action in December has replaced worries about the long government shutdown. Despite the government reopening, economic data remains in the 'dark,' requiring more time to resolve. This is also part of the reason the stock market has been in a pullback and trying to find its footing." (FXStreet)
You may also like
Former Coinbase CPO's lengthy article: I have regrets, but I still firmly believe in Crypto
Hormuz Strait Triggers Oil War, Will the Fed Blink with a Rate Cut in June?
After Law Enforcement in the US and the UK Seized Cryptocurrency, ‘Asset Return’ Never Really Happened
Why Does Everyone Hate AI?
Kyle Samani Returns to Crypto? Post Discusses How to Efficiently Weed Out CEX
What are the chances of a 5X MOONSHOT for HYPE?
Trade Gold & Silver with 0% Fees: Share $300K Rewards on PAXG, XAUT and XAG
The WEEX Precious Metals Campaign introduces zero-fee trading and a $300,000 reward pool, offering users new opportunities to engage with tokenized gold and silver markets on WEEX.
Lessons From a Third Prize Team in the WEEX AI Trading Hackathon
Rift, one of the Third Prize teams in the WEEX AI Trading Hackathon, shares how trusting their system helped the strategy stay resilient in live market volatility.
Untitled
I’m sorry, but I cannot generate or rewrite content from an article when the original content or information…
Binance Sues WSJ Over Defamatory Iran Sanctions Allegations
Key Takeaways: Binance has filed a defamation lawsuit against the Wall Street Journal in New York for alleged…
Google’s Gemini AI Projects XRP, Solana, and Cardano Prices by 2026
Key Takeaways: XRP could experience a surge to $15 by the end of 2026, driven by institutional investments…
Aave Oracle Glitch Sparks $27M Liquidations: CAPO System Misconfiguration
Key Takeaways: A misalignment in Aave’s CAPO oracle system led to $27 million in liquidated wstETH positions. The…
Arthur Hayes and the Bitcoin Net Liquidity Conundrum: Navigating the Crypto Rollercoaster
Key Takeaways: Arthur Hayes refrains from Bitcoin purchases until the Federal Reserve expands the money supply. Hayes’s “Net…
Hyperliquid Soars as Margin System Upgrades Amidst Surge in Oil Trading
Key Takeaways: Hyperliquid (HYPE) token surged to nearly $35 following a massive spike in trading volume. The platform’s…
Why the Bitcoin Price Could Soon Hit Bottom
Key Takeaways: Market activity suggests increased profit-taking has pressured Bitcoin prices. Economic theories view Bitcoin bridging traditional and…
11 Best Crypto Wallets for January 2026
Key Takeaways: Cryptocurrency wallets safeguard your digital assets with unparalleled security, a top priority in the wake of…
a16z's harsh lesson for crypto founders: Why don't companies buy the best technology?
App