CNBC:
After surprising inflation data, Nasdaq closes down 5.16%, Nvidia down 9.47%, Meta down 9.37%, Coinbase down 8.84%, Amazon down 7.06%; BTC down 9%+ in 24 hours — WATCH NOW — Four experts react to August’s key inflation report — Stocks fell sharply on Tuesday after a key August inflation report came …
Naoto Hosoda / Bloomberg:
Chip-related stocks slump in Japan, South Korea, and Taiwan after US curbs on China; the PHLX chip index fell to its lowest level since November 2020 on Monday — Chip-related stocks in Japan, South Korea and Taiwan slumped as traders returning from Monday’s holidays reacted …
Frank Chaparro / The Block:
Sources: Nasdaq is exploring an institutional crypto custody service, pending regulatory approval, and a crypto-focused division called Nasdaq Digital Assets — – Nasdaq has been plotting a move into crypto custody, according to several sources. — The move is in line with its broader mission …
Wall Street Journal:
Robinhood launches Investor Index, updated monthly, to track the performance of the 100 most popular stocks in its app, weighting users’ “conviction” in them — Robinhood Markets is launching an index to track the favorite stocks of its millions of predominantly young, social-media-savvy customers.
Jonathan Vanian / CNBC:
Meta’s stock has lost 61% of its value in the past 12 months, by far the biggest slide among Big Tech stocks and more than 2x the drop in the Nasdaq Composite — – Meta shares dropped below the company’s pandemic nadir during the day on Friday and are down more than 60% for the year.
Kit Rees / Bloomberg:
The subpar performance of FAANG stocks, which account for more than 10% of the S&P 500 weighting, will be a big drag on the market in the coming years — For some investors, this year’s rout in high-flying technology stocks is more than a bear market: It’s the end of an era for a handful …
Tim Copeland / The Block:
Binance releases its proof-of-reserves system, starting with BTC, claiming it has 582,485 BTC and 575,742 BTC user balance, a reserve ratio of 101% for users — – Binance has put out its proof-of-reserves system, in light of FTX’s meltdown. — It shows a reserve ratio of 101% for its users’ bitcoin balances.
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