Bitcoin’s Bear Market was Brutual but Nasdaq Drops 20% to Witness its Worst Run in Over 10 Years
As many of regular readers already know, Nasdaq is currently in the midst of one of its worst financial runs in over a decade. To be even more specific, a couple of days back, the Nasdaq Composite fell to a new annual-low of 6,332 points.
In relation to the stock market, it is worth noting that since peaking (at its all time high) in August (when the Nasdaq Composite scaled up to an impressive 8,109 points), the exchange has fallen by a whopping 22% — with the index currently hovering just over the 6,320 point mark.
What Should We Expect From The Stock Market Moving Forward?
According to President Trump, the poor performance of the US Stock Market can be directly attributed to the increase in the Federal Reserve’s native interest rate— which has essentially made it much more difficult for (small to medium) businesses to borrow money from any of the major financial institutions within the country.
Additionally, in regards to this situation, local investment experts have gone on record to say that with this hike, the US central banking authority has failed to “consider many key variables that may affect the short-term prospect of the global economy”.
Dow Jones Too On The Brink Of A Major Financial Downturn
Even though the Nasdaq Composite and Dow Jones are up financially since 2017, the past few weeks have seen the performance of both these exchanges drop quite significantly. As a result of this, many experts claim that if this pressure persists, the U.S. stock market might start displaying more signs of a drastic trend reversal (which in-turn will cause an additional drop in value all through early 2019).
In a recent interview with UBS exec, Jason Draho, the respected analyst was quoted as saying:
“The fear of slowing growth and a bear market has become much more prominent. There’s not many buyers who want to step up and say they’re willing to buy today, and many are waiting for the new year.”
Over the past fortnight or so, even the Dow Jones has dropped by a staggering 16.3 percent (from it's all-time high of 26,828 points). This has sent panic waves all through the investment community as it now appears as though the exchange is closing in on the bear market territory with each passing day.