Stocks, Cryptocurrencies Dive As Fear Of New Interest Rate Hikes Mounts
Portfolio Pulse from Natan Ponieman
Major indexes and cryptocurrencies have fallen this week due to fears of further interest rate hikes by the Fed. The S&P 500, Dow Jones, and Nasdaq are down 2%, 2.2%, and 2.29% respectively. Bitcoin and Ethereum have also seen significant losses. Walmart and Target have seen losses despite Walmart beating revenue estimates. Bank stocks have also dropped due to warnings from Fitch Ratings about potential downgrades. Hawaiian Electric Industries lost 31.15% of its stock value due to suspicions of involvement in a devastating fire. Cisco Systems is one of the few companies to see a rise in stock value this week.
August 18, 2023 | 8:08 pm
News sentiment analysis
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POSITIVE IMPACT
Cisco Systems has seen a rise in stock value this week after beating expectations on revenue and earnings.
Cisco Systems' stock has risen due to the company beating expectations on revenue and earnings.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Bitcoin has lost more than 11% over the last five days due to fears of further interest rate hikes.
The potential for further interest rate hikes has led to a sell-off in Bitcoin, causing its value to drop significantly.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Ethereum has lost 9.94% of its value over the last five days due to fears of further interest rate hikes.
The potential for further interest rate hikes has led to a sell-off in Ethereum, causing its value to drop significantly.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Hawaiian Electric Industries has lost 31.15% of its stock value this week due to suspicions of involvement in a devastating fire.
Suspicions of Hawaiian Electric Industries' involvement in a devastating fire have led to a significant drop in its stock value.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
JPMorgan Chase has lost 3% of its value this week due to warnings from Fitch Ratings about potential downgrades.
Warnings from Fitch Ratings about potential downgrades have led to a drop in JPMorgan Chase's stock value.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Target has lost 0.6% of its value this week and has slashed its outlook in its latest earnings report.
Target's stock has fallen due to a combination of missing analyst expectations, slashing its outlook, and the overall market volatility.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Walmart has lost 2.44% of its value this week despite beating revenue estimates.
Despite beating revenue estimates, Walmart's stock has fallen due to the overall market volatility and fears of further interest rate hikes.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100