Stock market today: Dow, S&P 500, Nasdaq sink, bitcoin plummets in downbeat start to December
Bitcoin (BTC-USD) tumbled more than 7% on Monday, along with crypto-related stocks, casting doubt on a year-end rally despite growing prospects of a Federal Reserve interest rate cut.
The world’s largest cryptocurrency fell from around $91,000 on Friday to $84,000 on Monday, over concerns that Japan could raise interest rates.
Read MoreCryptocurrency's wild ride in 2025
President Donald Trump’s second term began in January on an extremely crypto-positive note.
Late last year, after Trump’s victory, David O. Sacks was named White House AI and crypto czar. Meanwhile, SEC Chair and crypto skeptic Gary Gensler announced plans to step down.
Bitcoin’s subsequent rise in 2025 mirrored the gains made by gold as the political storms Trump has produced have frayed investor nerves.
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Read MoreHafnia: Still Well Positioned To Sustain Its Business And Dividends
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Read MoreMichael Burry says Tesla stock is 'ridiculously overvalued'
Michael Burry has decided Tesla belongs in his personal pantheon of overvalued giants. The “Big Short” investor, who named his new Substack “Cassandra Unchained” after the doomed mythological prophet and amassed about $1.1 billion in puts on Nvidia and Palantir, is now using his newsletter to argue that “Tesla’s market capitalization is ridiculously overvalued today and has been for a good long time” and that CEO Elon Musk’s $1 trillion pay package all but guarantees more dilution for shareholders.
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Read MoreZaggle to acquire Rio.Money; to invest ₹75 crore
Zaggle Prepaid Ocean Services Limited, a spend management and SaaS-led fintech company, will acquire Rivpe Technology Private Limited, which offers consumer credit cards and UPI-based payment solutions.
“Zaggle will acquire Rio.Money’s equity and preference shares for a cash consideration, resulting in the purchase of the company’s entire issued and paid-up share capital on a fully diluted basis,” a Zaggle statement said.
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Read MoreThe Burst
1 Buffett Story Nobody Told You That Led to Riches
When you tune into a Warren Buffett Annual Shareholder meeting, you’ll often hear the Oracle of Omaha reference See’s Candies, but few understand why this humble confectionary retailer holds such a special place in Buffett’s heart.
Back when Buffett bought See’s he had grand plans to be the candy mogul of the world.
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Read MoreThe Ivy
Is Your Favorite Pharmacy About To Go Belly Up?
Walgreens Boots Alliance stands at a critical juncture in the company’s 170-year history with revenues of $147 billion but a market capitalization of just $7 billion.
A heavily burdened balance sheet has been the prime culprit of the stock’s downfall but, under new CEO Tim Wentworth, management is undertaking an ambitious realignment aimed at stabilizing the core pharmacy business while taking the chop to some of its healthcare investments.
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Read MoreThe Spotlight
Is Beyond Meat Toast?
There is no doubt that Beyond Meat has made a big splash in the food industry since it was founded in 2009. But with recent press releases suggesting that Beyond Meat may face financial difficulties, some people wonder if the company is destined to fail.
Beyond Meat produces plant-based meat products that are designed to taste and look like real meat.