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Wall Street ends to snap three-day losing streak as technology stocks rise higher | Malay Mail

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NEW YORK, May 21 — Wall Street’s main indexes rebounded on Thursday after a three-day slide, buoyed by gains in technology stocks as the smallest weekly jobless claims since the start of a pandemic-driven recession lifted the mood. Bitcoin clawed back some lost ground to trade near US$40,000...

Friday, 21 May 2021 05:12 AM MYT

“There’s a big risk, regulatory risk, to crypto that’s not fully appreciated,” said Jay Hatfield, founder and chief executive of Infrastructure Capital Management in New York. “The central banks have a monopoly on currency. And so we just think that it’s a little bit surprising they haven’t enforced that monopoly.”

“Right now really there is just one driver of the market, and that is the Fed and potential timing of tapering and quantitative easing,” Hatfield added. Volume on US exchanges was 9.30 billion shares, compared with the 10.05 billion average for the full session over the last 20 trading days.

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