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On August 30th, Finnish President Alexander Stubb stated on Saturday that he does not believe Russia will attack NATO, "the worlds most powerful military alliance." However, in an interview with the German newspaper Bild, he said NATO should "prepare for the worst to prevent it from happening." Stubb pointed out that Russia has lost more soldiers than it recruited and judged that Russia may mobilize more troops in the fall, although this move would have "domestic political implications." He said Moscow is in an "increasingly complex situation," but emphasized that Russia will not end the conflict due to an economic downturn. He stated, "Never underestimate how much economic hardship the Russians can withstand."On August 30th, Yonhap News Agency reported that US President Trumps financial disclosures revealed he traded shares of e-commerce giant Coupang Inc. twice in June through a fund manager. Meanwhile, tensions between the US and South Korea continue to escalate over South Koreas regulatory handling of the massive data breach at the US-listed e-commerce giant. In July, the US House Judiciary Committee released a temporary staff report accusing the South Korean government of carrying out a "discriminatory attack" against Coupang and all other US companies, stating that Coupang has been a "consistently targeted entity."On August 30, Iraqi Prime Ministers Security Advisor Qassem Araji stated in a recent interview with Al Jazeera that Iraq maintains "good relations" with both Iran and the United States and seeks to act as a "bridge" for communication among all parties to reach an agreement that safeguards the interests of the entire region. He added that Iran has emphasized the necessity of eliminating extremist groups within Iraq.On August 30th, SK Hynix CEO Guo Luzheng stated that the company remains open to further investment in the US semiconductor industry, while predicting that the global memory chip shortage will continue until the end of 2030. "We are always open to more investment, but no decisions have been made yet," Guo Luzheng said. He stated that SK Hynix is searching globally for potential sites that can meet its R&D and testing needs, noting that electricity, water resources, and government incentives are key considerations. Guo Luzheng said, "We are open to any location that can provide sufficient infrastructure and resources." He also expressed hope that the company will bring "more good news" to the US artificial intelligence industry in the future.Iraqi Prime Ministers Security Advisor Qassem Araj: Iraq seeks to become a "bridge" between Iran and the United States.

Crypto Market Daily Highlights – DOGE and ADA Lead a Bearish Top Ten

Cory Russell

Dec 29, 2022 14:11

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For the top 10 cryptos on Wednesday, it was a negative session. Leading the way down were DOGE and ADA, with MATIC and XRP far behind. Notably, BTC fell below $16,500 for the first time in eight sessions while failing to reach $17,000 for the eighth straight session.


Throughout the midweek session, the cryptocurrency market was dominated by a bearish mood. As market worries about Fed monetary policy and the growing possibility of a harsh landing propelled riskier assets into the red, hopes of a post-holiday recovery receded.


With China's economy scheduled to reopen and demand likely to jump, along with Russia's embargo on oil shipments to nations with price limits, concerns about another spike in inflation that would compel the Fed to raise rates longer are still prevalent.


The US unemployment rate is at 3.7%, which is lower than the Fed's target rate of 5.0%. This gives the Fed plenty of leeway to maintain its aggressive interest rate trajectory.


The most recent spike of new COVID-19 cases throughout China is another factor contributing to the long list of economic challenges. While China has eliminated the need for quarantines, other nations are starting to place travel restrictions on people coming from China.


The S&P 500 lost 1.20%, while the NASDAQ Index dropped by 1.35%


US unemployment claims data will be of importance today. Better-than-expected results might trigger another sell-off since investors are uneasy about the Fed. The cryptocurrency market will probably continue to follow the NASDAQ Index until there is a significant crypto event. The NASDAQ mini gained 24.5 points this morning.