US Europe and Asian Markets
The stock market indices in the United States and Europe experienced minor fluctuations due to investors analyzing recent corporate earnings and anticipating an upcoming interest rate increase. The S&P 500 and DJIA in the US closed at slightly lower levels. Meanwhile, European equities declined, reflecting a subdued mood as evidenced by the Eurozone’s core inflation rate increasing to 7.5% YoY in March. The MSCI Europe closed slightly lower. In Asia Pacific, equities faced a sharp decline due to concerns over China’s uneven economic recovery and conflicting economic data in the first quarter. The MSCI APxJ closed notably lower.
- S&P 500 4,154.52 (-0.01% DoD)
- DJIA 33,897.01 (-0.23% DoD)
- MSCI Europe 157.35 (-0.09% DoD)
- MSCI APxJ 523.94 (-0.80% DoD)
The Crypto Metaverse
U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler had faced questions over the office enforcement action against companies who offered crypto-related products and services. SEC commissioner Hester Pierce have said that the office current regulatory requirement made it impossible for crypto-related offerings to gain approval. Pierce rebuked her agency calling its action as “paternalistic and lazy.” Pierce further wrote that “using enforcement actions to tell people what the law is in an emerging industry is not an efficient or fair way of regulating.”
- Bitcoin $28,773.94
- Ethereum $1,933.73
- Binance $322.40
- Cardano $0.4163
