Last week, the markets got hammered…
As of last Friday, the S&P 500 was down 1.2%. The tech-heavy Nasdaq dropped as much as 2.6%. And individual companies like DocuSign have crashed as much as 45.8%. (Since then, we’ve seen quite a rally.)
The crypto market wasn’t spared either…
Bitcoin and Ethereum saw pullbacks of as much as 19.7% and 19.2%, respectively.
I’ve been warning my readers of a pullback in stocks and cryptos for a few weeks now.
And told them not to worry when it happens…
If you listen to the media, the main causes of this sell-off were fears over the omicron variant of the coronavirus… the supply-chain crisis… and profit-taking by investors before the end of the year.
The truth is no one really knows why the market sold off…