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NewsFeeds: Macro
Macro news that moves crypto: Fed decisions, inflation data, the dollar and bond yields, rewritten by AI in our own words, credited and linked.
AI rewriteEvery flash here is rewritten by AI from an outlet’s flash or a public Telegram channel, and goes live without an editor reading it first. The outlet is named and linked on each one; AI also sets its topic and tone (Bullish, Bearish or Neutral: an AI reading of the flash, not investment advice), and when two outlets report the same news, you see it once.Where AI is used
Breaking news and our own Originals on your phone or desktop, the moment they are out. A few alerts a day at most.
Live · checking for new flashes
Fri 6 Nov
South Korea finance minister says stock market overreacted to external factors
South Korea's finance minister said the country's stock market has overreacted to external factors and that the economy's fundamentals remain strong. He said the government will act to stop market anxiety from escalating further.
MU falls 10.8% in 24 hours to $697.24
MU fell 10.8% over 24 hours and was trading at $697.24, according to MSX.COM data.
Musk says US stock sell-off is one he rarely sees as market value drops
The Macro Paper said US stocks shed $2.8tn in market value in a day, the largest single-day loss on record and above the pandemic-era $2.69tn, with readers noting about $2tn on the day versus $3.5tn on 16 March 2020. Musk replied that he rarely sees such moves.
South Korea's KOSPI recovers as decline narrows to under 4%
South Korea's KOSPI index kept recovering, with its decline narrowing to less than 4%, according to Gate market data.
Previous related news
- South Korea's KOSPI trims loss to within 5%
- Noel Smith says US stock slump looks like hedge fund liquidation
- Samsung Electronics falls 11.0% in 24 hours to $137.69
Macro
ChainCatcherAINeutral
Walleye and Engineers Gate confirm losses and job cuts after tech stock sell-off
After a sharp fall in US tech stocks, Walleye Capital, which manages about $17bn, lost 5.9% in October, dismissed equities head Anil Gondi and plans to return capital to investors. Engineers Gate cut its Synthesis equities team after a 5.5% October loss; other reported fund troubles are unconfirmed.
Previous related news
See all 3 updates on Walleye Capital losses and cutsKobeissi Letter says persistent selling stood out in overnight rout
The Kobeissi Letter said the selling in the overnight rout was strikingly persistent, with the S&P 500 and Nasdaq 100 rebounding at least five times, once by as much as 1.7%, only to be sold off again.
Ark Invest buys $2.44m of Coinbase shares as stock falls 9.69%
Ark Invest, led by Cathie Wood, bought $2.44m of Coinbase shares as the stock fell 9.69% on the day. It sold 109,522 Bullish shares worth $2.27m and 119,841 BitMine shares worth $2.28m, both down more than 10%.
Hong Kong-linked contracts extend 24-hour losses
Hong Kong-related contracts extended their 24-hour declines, with Zhongji Innolight down 11.3% at $70.16 and Zhipu down 10.4%, including 7.8% in one hour, at $52.97.
MRVL falls 11.0% in 24 hours to $139.15
MRVL fell 11.0% over 24 hours and was trading at $139.15, according to MSX.COM data.
Previous related news
See all 3 updates on MRVL share price declineMoomoo's Michael McCarthy says US stocks may be at a turning point
Moomoo Australia and New Zealand chief executive Michael McCarthy says market sentiment has clearly shifted, and that turning points tend to bring sharp two-way swings in share prices. He says overnight selling in US stocks suggests large participants believe the rally that drove the market is over.
FTSE 100 falls to 10,650 points, down 2.1% in 24 hours
The UK's FTSE 100 fell to 10,650 points and last traded at 10,648.37, a 24-hour drop of 2.1%, according to Gate data.
Musk's wealth falls nearly $80bn in a day as Tesla and SpaceX slide
Forbes' real-time rich list put Elon Musk's wealth at about $790bn at the 5 November US market close, down $79.3bn in a day. Bloomberg's index put it at about $785bn, down $79.7bn, as Tesla fell 10.77% and SpaceX 9.05%.
Previous related news
- Tesla falls more than 10% and SpaceX more than 7%, Gate data shows
- SpaceX falls 8% and Tesla 5.4% in pre-market trading
- SpaceX slips over 3% and Tesla 2.4% in premarket trading
Macro
Tech investor Jason says market bottom is in and plans to buy stocks
Tech investor Jason said on X that a bottom has appeared and that he would put every penny he can find into TSLA, SPCX, UBER, AMZN, SHOP, MSFT, GOOG and AAPL, even if tech valuations fall another 10%. He also predicted lower inflation, Democratic support for data centres and AI in exchange for富人 tax changes and frontier AI rules, and stock markets hitting record highs.
South Korea's KOSPI narrows loss to 6.8% after trading halt
South Korea's KOSPI resumed trading after a circuit breaker and its decline narrowed to 6.8%, with SK Hynix down 7.99% and Samsung down 7.3%, according to Gate market data.
Previous related news
- KOSPI circuit breaker triggered after index falls more than 8%
- South Korea's KOSPI index falls as much as 8% in early trading
- SK Hynix falls 17.9% in 24 hours
Macro
Odaily
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