Markets Took a Nasty Dip 💀
Selling kicked in hard last week with ugly drops for US tech plays. The Nasdaq slid almost 3% on Friday alone, the worst slide since June, while names like Intel and AMD crashed double digits. That index ended nearly 8% off its October 6 high cuz AI hype spending might not pay off enough 📉 This gloom spread beyond the US tho. China’s CSI 300 dipped 1.4% on Friday and closed October down a brutal 8.5%, its worst monthly drop in over a decade. The index has now tumbled around 15% across 12 straight losing weeks and tech shares got hit hardest with the STAR50 plunging 5.5% in one session 🕸️ Normally this kind of synced risk-off move would freak out Bitcoin but it only dipped Friday mainly from that $6.3 billion Binance hack pain and actually clawed back almost $2,000 from the $76,100 low since then 🦇 Meanwhile the Fed held rates steady but hotter data flipped vibes toward more tightening fast. US GDP grew 3.4% annualized in Q3 while headline PCE inflation rose to 3.6% in September from 3.4% in August. Markets now price in roughly an 80% shot at a 25-basis-point hike in December as Reuters noted here 📊New Shadows Over Everything 🌙
Reports popped up over the weekend that President Trump chatted with Netanyahu about restarting strikes on Iran possibly next week. The tweet below shows the buzz: Trump has warned strikes would ramp up post midterms which land Tuesday and the crew told Gulf nations to gear up for a short intense campaign after November 3. That Binance hack just added to the pressure pile. BTC did dump over 7% in October but given the hack scale, market stress, expected December hike, midterms and possible Middle East fireworks, hovering between $77,000 and $78,000 feels way better than it should lmao 🪙💉Just another echo from the void by iconofsin.eth 💖
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