Stock and crypto markets on Thursday saw volatility, after experiencing upheaval in tensions between China and Taiwan on Tuesday and Wednesday. Major indexes like the S&P 500, Dow Jones and NYSE are down a few percent today, while global crypto market capitalization lost 2.5% in 24 hours, falling just above the 1st range. 1 trillion dollars. On the other hand, the precious metal traded higher as the administration of US President Joe Biden declared that the smallpox virus was a public health emergency in the United States.
China and Taiwan tensions and smallpox reports send stock and crypto prices volatile, precious metals markets up Catching ‘safety demand’
Stock and crypto traders faced a number of difficulties on August 4, a day after the American representative from California, Nancy Pelosi, visited Taiwan to discuss democracy with Taiwanese President Tsai Ing-wen. Global markets saw some volatility ahead of the US diplomat’s visit to Taipei and during Wednesday’s visit.
Stocks and precious metals markets fell the previous day on August 3, while the crypto economy attempted to consolidate for another day. US stock market take a dip again on Thursday as the Dow Jones Industrial Average fell 85 points in afternoon trading (EST). Electronic money follow The stock market tumbles throughout the day.
While Nasdaq rose, the S&P 500, NYSE and many other stocks all fell throughout the day. The crypto economy also suffered a loss, as all digital assets today lost 2.5% in the last 24 hours against the US dollar.
Top Crypto Assets bitcoin (BTC) fell 5% Thursday afternoon from $23,548 to $22,395 in value. Ethereum (ETH) also lost 5% today after hitting a 24-hour high at $1,666 per unit to as low as $1,545 per coin. Among the top ten crypto market cap candidates, solana (SOL) lose the most, lose 5.6% in the day and polkadot (DOT) down 5.5%.
In Europe, Ukraine-Russia War Tensions between China and Taiwan have escalated this week. While Asia is dealing with tensions, Europe is dealing with an energy crisis and recession. The United States is also dealing with what many believe Depression although American officials and their experts have stated if not.
On Thursday, the US Department of Labor published weekly jobless claims data, which notes claims increased from 6,000 to 260,000. As the weekend approaches, stock traders have interested in the July US jobs report, due to be released on Friday. Hours before the closing bell on Thursday, several leading Wall Street indexes such as the Dow and S&P 500 recovered slightly. By the end of Wall Street’s trading day on Thursday, three of the four major indexes were down.
Meanwhile, gold and silver markets were somewhat lower on Thursday as both assets edged higher. The price of gold per ounce increased by 1.64% while the price of silver per ounce against the US dollar increased by 1.04%. On August 4, Jim Wyckoff of Kitco attribution The precious metal’s spike caused tensions in Asia as he said that gold and silver prices were higher in the US “due to safe-haven demand as China-Taiwan-US tensions escalate this week”.
Furthermore, on Thursday, reports detailed that the United States had officially declared the smallpox virus a public health emergency. Washington Post (WP) reporter Dan Diamond explain that “two unnamed officials” said the Biden administration would declare monkeypox outbreaks a public health emergency. Diamond writes that the message will come from White House Health and Human Services Secretary Xavier Becerra.
Following the report, Becerra declared monkeypox a public health emergency in the US, during an afternoon press conference. “We’re prepared to take our response to the next level in tackling this virus, and we urge all Americans to take monkeypox seriously,” the Health Secretary said. stress for the press.
What do you think of Thursday’s stock and crypto market action while gold and silver prices have some gains? Let us know your thoughts on this topic in the comments section below.
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