Bitcoin Price Recovers as Dow Suffers Worst Week in a Decade

The latest equity market data makes for pretty grim reading for conventional equity traders, as it shows that the Dow Jones Industrial Average has suffered its worst week since the global financial crisis of 2008. According to the data, the Dow lost 1,655 points or about 7 percent in its worst week-on-week decline in 10 years with no immediate sign of recovery on the horizon.

CNBC reports that the Federal Reserve’s rate hike on Wednesday and fears of an extended government shutdown on Friday are instrumental to the losses suffered in the financial market. Alongside the Dow, the S&P 500 fell 2.1 percent to close at 2,416.58, and the Nasdaq Composite lost 2.99 percent at 6,332.99, following significant losses in technology stocks such as Facebook, Amazon, and Apple. Both the Dow and the S&P 500 are in the red for 2018 by at least 9 percent, and both are also preparing for what looks to be their worst December performance since the Great Depression of 1931.

Reference: https://www.ccn.com/bitcoin-price-recovers-as-dow-suffers-worst-week-in-a-decade/

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