Crypto and Stocks Crumble Amid Global Financial Turmoil đ¨đ¨
Global financial markets are in chaos, driven by the unraveling of the Japanese carry trade, which has sparked an unprecedented sell-off.
Key Highlights:
â˘Japanâs Nikkei 225: The index has plummeted by a staggering 18.2% over just two days, with a sharp 12.4% drop today alone.
â˘US Markets: Over the past week, $7 trillion in market value has been wiped out.
â˘Cryptocurrency Crash: In the last 24 hours, more than $1 billion has been liquidated, with Bitcoin and other cryptocurrencies taking a steep nosedive.
â˘Fed Rate Freeze: The Federal Reserveâs decision to hold interest rates steady, amid signs of a slowing US economy, has only deepened market uncertainty and instability.
Sources: Reuters, Markets Insider, Federal Reserve History