Stocks traded higher for most of Tuesday, but lost steam in the afternoon as Wall Street reacted to major volatility in the crypto space. last hard. The news sent the price of Bitcoin down 12.6% to $18,184 (Bitcoin trades 24 hours a day; the price quoted here is at 4 p.m.). “These are bad days for crypto. Binance had to step in to save Sam Bankman-Fried’s FTX crypto exchange,” said Edward Moya, chief market analyst at currency data provider OANDA. “This is a big setback for crypto investors who have been watching [Bankman-Fried] as a white warrior and one of the leaders in the space that should flourish when we get out of the crypto winter. ” The news also upset stocks with the spread of digital assets such as the cryptocurrency exchange Coinbase Global (COIN (opens on a new chart), -10.8%) and the online trading platform Robinhood Markets (HOOD (opens on new chart), -19.0%).
Subscribe to Kiplinger’s Personal Finance
Be a smarter and smarter investor.
Save up to 74%
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with Kiplinger’s best advice on investing, taxes, retirement, personal finance and more – straight to your inbox.
Profit and prosper with the best advice from Kiplinger – straight to your email.
Sign up for Kiplinger’s FREE Investing Weekly e-letter for stock, ETF and mutual fund recommendations, and other investment tips. It was down 0.9% by mid-afternoon. Price action stabilized in the last hour of the session, with the technical heavyweight index ending up 0.5% at 10,616. The broader S&P 500 Index rose 0.6% to 3,828, while the blue Dow Jones Industrial Average outperformed (+1.0% to 33,160) as Amgen (AMGN (opens on new chart)) added 5.6% to the innovation was well received by him. obesity drugs Low Vol-Vol ETFs to Consider After Midterms The first gains came today as midterm elections were held across the country. And history suggests that the stock market may rise for a few weeks. “After the election, we expect a slight uptick in stock markets next month (+1%) – assuming Thursday’s consumer price print is not ‘hot’, ” said Wells Fargo analyst Chris Harvey. Although it may take several weeks to see the full results of the ticket, most expect Republicans to gain control of the House of Representatives. Harvey said that if we see a “red wave” — where the GOP can control the House and Senate — the defense stocks should continue to do well. This includes companies in the consumer sector and the health sector. Harvey also said that the red wave could be useful for low-volatility strategies, which have tended to see strong results after previous elections in which Republicans controlled Congress. For investors looking to add a safe haven to their portfolio, here are 10 low-volatility exchange-traded funds that offer an inexpensive way to provide stability amid market volatility. Look at them.