{"id":301064,"date":"2022-11-09T17:27:09","date_gmt":"2022-11-09T22:27:09","guid":{"rendered":"https:\/\/stockchase.com\/discover\/?p=301064"},"modified":"2022-11-09T17:31:35","modified_gmt":"2022-11-09T22:31:35","slug":"cryptos-tank-stocks-sink","status":"publish","type":"post","link":"https:\/\/stockchase.com\/discover\/cryptos-tank-stocks-sink\/","title":{"rendered":"Cryptos tank, stocks sink"},"content":{"rendered":"

The meltdown in cryptos continued on Wednesday as Binance backed out of its FTX bail-out. Investors and speculators sold their crypto positions hard with Bitcoin<\/a> tanking 13.77% to fall below $16,000. Crypto’s tailspin overshadowed the sell-off in stocks a day after the U.S. Midterms which saw the Republicans gain a bit more power in Washington, as the street expected. The S&P and Dow slipped 2%, while the Nasdaq fell 2.48%.<\/p>\n

Disney<\/a> weighed on the indices after it delivered a disappointing quarter and forecast. The shares of Mickey slid 13.16%. Also sagging were Tesla<\/a> at -7.17%, Norwegian<\/a> at -8.62% and Occidental<\/a> -9.22%. The latter reflected the price of WTI crude declining 3.7% to $85.50. However, Meta<\/a> regained 5.18% after announcing widespread layoffs in the face of recent high spending.<\/p>\n

Things were slightly better in Canada as the TSX shed 1.61%. The only sector trading positively was telcos. Energy and materials in particular dragged down the TSX. The biggest movers were Enbridge<\/a> at -1.41%, Suncor<\/a> -3.48% as well as Canopy Growth<\/a> up 2.59%. Cenovus<\/a> shed 5.4%, but EQB<\/a> soared 12.24% after reporting a robust Q3.<\/p>\n

🅱 Bitcoin (BTCUSD) (CRYPTO:BTC)<\/a> -13.77%
\n👸 Walt Disney Co. (DIS-N)<\/a> -13.16%
\n🚗 Tesla Motors Inc (TSLA-Q)<\/a> -7.17%
\n🚢 Norwegian Cruise Line Holdings (NCLH-N)<\/a> -8.62%
\n🛢 Occidental Petroleum Corp (OXY-N)<\/a> -9.22%
\n🕵️‍♂️ Meta Platforms Inc \/ Facebook (META-Q)<\/a> +5.18%
\n🛢 Enbridge (ENB-T)<\/a> -1.41%
\n🛢 Suncor Energy Inc (SU-T)<\/a> -3.48%
\n🌿 Canopy Growth Corp. (WEED-T)<\/a> +2.59%
\n🛢 Cenovus Energy (CVE-T)<\/a> -5.4%
\n🏛 Equitable Group (EQB-T)<\/a> +12.24%<\/p>\n","protected":false},"excerpt":{"rendered":"

The meltdown in cryptos continued on Wednesday as Binance backed out of its FTX bail-out. Investors and speculators sold their crypto positions hard with Bitcoin tanking 13.77% to fall below $16,000. Crypto’s tailspin overshadowed the sell-off in stocks a day […]<\/p>\n","protected":false},"author":12,"featured_media":174836,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"cwp_meta_box_check":"No","cwp_rev_product_name":"","cwp_rev_product_image":"","wppr_links":[],"cwp_rev_price":"","wppr_options":[],"wppr_pros":[],"wppr_cons":[],"footnotes":""},"categories":[178],"tags":[],"class_list":["post-301064","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily"],"wppr_data":{"cwp_meta_box_check":"No"},"_links":{"self":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/301064","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/comments?post=301064"}],"version-history":[{"count":0,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/301064\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/media\/174836"}],"wp:attachment":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/media?parent=301064"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=301064"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=301064"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}