US stocks suffered their worst falls in more than six years on Monday in a sell-off sparked by concerns of higher interest rates. Via BBC News (06 Feb.) The Dow Jones Industrial Average index tumbled 1,175 points, or 4.6% to close down at 24,345.75. Investors are reacting to changes in the outlook for the American and global economy, and what that might mean for the cost of borrowing.
The biggest global equity selloff in two years continued to pick up momentum as US stock futures kept falling and exchanges across Asia posted losses. The equity downturn came as the yield on the benchmark 10-year Treasury hit a four-year high. Bloomberg (05 Feb.) Reuters (05 Feb.)
China will block all websites, foreign and domestic, providing information related to cyrptocurrency trading and initial coin offerings in an effort to completely shut down the cryptocurrency market, according to a report by Financial News, a publication associated with the People’s Bank of China. When China banned cryptocurrency trading and ICOs in September, some investors simply shifted to offshore platforms. South China Morning Post (Hong Kong) (05 Feb.)