With the advent of the pandemic and with people and businesses trying to recuperate from the stagnation and economic setbacks that resulted from the lockdown, it is very possible to anticipate what the world is talking about on the internet. We all can agree on the fact that the world is not talking about one particular thing at a time. Given the fact that the future comes to different areas at various intervals. The topmost discussed topics range from financial information of the trends on the foreign exchange market, the stock market, on how businesses and people are faring during this period, to Lionel Messi getting stuck with FC Barcelona after his request to leave the team, due to some contractual disagreements, and on another note, a Ukrainian woman taking a walk for fresh air on the wings of a plane upon touch down.
Tech stocks fall After a week of gains
After a week of gains, tech stocks recorded an all-time low which has been its worst setback since June. On Thursday after a week of highs, the stock market experienced its lowest, with tech stocks causing a close of the S&P 500, which dropped more than 3.5% causing a decline in all gains that had accrued weeks prior. Dow Jone industrial started out with 1000 points low and ended up with 800 points low. Nasdaq composition the other lost 5%. Other tech giants such as Apple, were down 8%. Microsoft and Amazon were down more than 6 and 4.5% respectively.
As anticipated by investors that the COVID-19 virus would amplify the gains for tech companies, share prices for large companies increased, causing massive gains on the stock market. However, last week’s events have got a lot of speculators talking. The low turns on Thursday saw a turn over for the better on Friday, which started with a rise in stock prices and ended on a downtrend and is expected to continue because of the long labor day weekend. Many investors are opting not to buy real shares, but rather, to invest in options trade where they can bet on the leverage of how share prices will move. Based on the volumes and offers that companies give, according to this Axiory broker review, it is quite obvious that most investors flee to currencies as they tend to be the most resilient in a recession other than gold.
Statistics on Thursday showed that more claims for unemployment insurance are an indication that the labor market is still suffering the effects of the pandemic, with about 800,000 people filing in.
2. Analysts discuss the possibility of Tesla’s stock plummeting 90% over
Tesla is making rounds on the internet, not only because it is one of the biggest tech car companies, but because of the high level of volatility of its stocks. Despite this and the 2020 pullback, the tech giant’s investors are receiving tremendous amounts in returns. Speculators anticipate that if Tesla has its way, there will be an outrageous fall in the next couple of months. Tesla’s stock declined at 96% each year with a share price of $19 each speculator indicated. However, they speculate a plus side for Tesla by the end of 2020 with deliveries hitting 494,848 see the list here.
Furthermore, the explanatory increase in Tesla shares has nothing to do with the fed siphoned US markets. In any case, speculators predict another surprise in 3Q20 and accept that agreement will be stunned by the antics.
When will it end? We don’t have an idea when this will end, yet, what we are certain of is that Tesla’s standards are declining constantly, and the tech company will trade down to reasonable worth when it ends.
3. The world’s richest lose billions of dollars over market downturns
The events on the financial market last week were expensive for investors and for billionaires as well. As COVID-19 continues, the wealth of the richest people dropped a whopping total of $444 billion. The drawback in recent weeks almost wiped out $78 billion in wealth that the richest people had amassed throughout the outbreak of the pandemic. Dow Jones went down 12% in just five days losing them over 800 points, with 6$.5 trillion loss in global stocks. The 25th richest person in the world Elon Musk lost 9 billion as Tesla shares dropped after highs at the beginning of the year, Jeff Bezos Amazon Inc. CEO, Bernard Arnaud CEO OF LVMH, Bill Gate co-founder of Microsoft Inc. recorded billions of dollars losses accordingly.
Administrations and health personnel are doing their best to ensure that the pandemic is contained so that the markets can readjust. Businesses and billionaires are in a red zone this year, per Bloomberg’s wealth ranking. It states that about 80% of billionaires are experiencing various kinds of challenges in their businesses.
4. Warren Buffett’s sporadic sale of stocks
The second quarter of Warren Buffett’s stock portfolio was very active, as per a snapshot posted by his conglomerate. The Oracle of Omaha in the past few years only managed to accompany the return of the standard S&P 500. However, there’s no denying the fact that his latest investment moves have been quite impressive which included stocks in JPMorgan Chase, STORE Capital which is Berkshire’s favorite REIT, Wells Fargo, and other bank stocks. Buffett also bought shares in Barrick Gold. Despite his outright negative view of gold as an investment, his latest investment is the gold investment in Barrick Gold. Due to the government’s huge borrowing and massive printing for relief money for the pandemic, analysts speculate that his move is to secure his money as gold has increased an ounce in value. We all know that gold is a safe haven when it comes to securing one’s wealth. Notwithstanding, this change of his stance with regards to gold has people in the cryptocurrency sector anticipating or wondering if he will change his mind towards bitcoins as well.
5. Ukrainian woman takes a walk on the wing of a plane
The few minutes that you wait to alight a plane upon touch down often feels like forever, and in these few minutes, you feel like the plane needs more exits- with everyone standing up to get their bags or got out, makes those in the back feel somehow trapped. This was the case when a Ukrainian woman was blacklisted because she opened the emergency door and moved to the wing of the plane. This had border officials and other passengers in shock because this was so random and could have been dangerous if the plane was still moving or in the air. What was more baffling is that the mother of two was not sitting far back and her children had already stepped out of the plane waiting for her. When asked why she did that, she said that she had stepped out to take some fresh air because she was feeling too hot. This action was a gross violation of aviation safety regulations and for that, she has been blacklisted and is not eligible to fly through any airline. The mother of two has since gone viral as the video of her surfaced on the internet. That was sure daring.
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