“Everything Rally” Stalls: Bitcoin Plunges, Stocks & Gold Follow – Urgent Breaking News
The seemingly unstoppable surge across major asset classes – dubbed the “everything rally” – is showing cracks, sending ripples of concern through global markets. Bitcoin, gold, and stocks are all experiencing a notable downturn, fueled by shifting expectations surrounding Federal Reserve policy and growing anxieties about a potential artificial intelligence bubble. This is a developing story, and archyde.com is providing up-to-the-minute coverage.
Bitcoin’s Dramatic Reversal
Cryptocurrency markets are leading the decline. Bitcoin, the bellwether of the crypto world, plummeted more than 5% during intraday trading on November 18th, falling below the crucial $90,000 mark for the first time in seven months. This drop echoes the uncertainty seen in April when U.S. tariff concerns first surfaced. Just 40 days ago, on October 6th, Bitcoin reached an all-time high of $126,000. Now, it has erased all of its year-to-date gains, representing a 24% loss overall and a steeper 29% fall from its recent peak.
The optimism that propelled Bitcoin earlier this year – driven by hopes for crypto-friendly policies under a potential Trump administration and increased market liquidity – appears to be waning. Even predictions from prominent figures like Robert Kiyosaki, author of Rich Dad Poor Dad, who forecasted a $1 million Bitcoin price within the next decade, now seem increasingly optimistic. It’s a stark reminder of the inherent volatility within the cryptocurrency space.
Stock Market Turbulence
The downturn isn’t limited to the crypto realm. Global stock markets are also feeling the pressure. The KOSPI closed at 3,953.62, a significant 3.32% drop from the previous day, after hitting a record high just three days prior. Foreign investors are driving much of the selling pressure. In the U.S., the Standard & Poor’s 500, Nasdaq Composite, and Dow Jones Industrial Average all closed lower on November 17th, falling 0.92%, 0.84%, and 1.18% respectively.
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Gold Loses Its Shine
Even gold, often considered a safe-haven asset during times of economic uncertainty, isn’t immune to the current market sentiment. The precious metal has declined to around $4,020 per troy ounce, a 0.5% decrease from the previous day and over 7% below its October 20th record high of $4,356.50. This suggests that even traditional hedges against risk are being impacted by the broader shift in investor mood.
What’s Driving the Shift?
Analysts point to two primary factors behind the market pullback: diminishing expectations for a Federal Reserve rate cut in the near future and persistent concerns about a potential bubble forming in the artificial intelligence sector. Stronger-than-expected economic data has led investors to believe the Fed may hold off on easing monetary policy, reducing the appeal of risk assets. Simultaneously, the rapid growth and high valuations of AI-related companies are raising questions about sustainability.
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The convergence of these factors has triggered a wave of risk aversion, prompting investors to reassess their portfolios and take profits. The “everything rally” may be pausing for breath, but the long-term implications remain to be seen. For now, market watchers are bracing for continued volatility as investors digest the changing landscape.
As this story unfolds, archyde.com will continue to provide comprehensive coverage and expert analysis. Stay tuned for updates and in-depth reporting on the evolving financial markets. Explore our finance section for more insights and resources to help you navigate today’s complex economic environment.
