#MarketDownturn

After the cryptocurrency market decline: Three important points to watch this week

The cryptocurrency market has witnessed a sharp decline, with its total value falling below $2 trillion in a massive collapse that is the most severe in more than a year.

Asian stock markets were also affected on Monday morning by the decline in technology stocks in the United States at the end of last week, adding further pressure to global financial markets.

In a message dated August 5, Al Qubaisi noted that markets are trading as if a recession has already arrived.

Economic calendar for the period from August 5 to 9:

This week includes several important economic releases.

On Monday, the S&P Services Purchasing Managers’ Index for July will be released, which provides an overview of business conditions in the services sector in the United States.

The ISM Services report will also be published, which provides economic indicators based on surveys of supply management professionals, which are often early indicators of broader economic changes.

On Thursday, the initial jobless claims data will be released, which provides insight into the state of employment and the labor market in the United States, and has a significant impact on the economy. However, these economic events are not expected to have a significant impact on financial markets, as markets are already suffering.