#DOWNTURN News

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Elon Musk urges Fed to cut rates 'immediately,' or risk severe recession

foxbusiness.com Elon Musk called on the Federal Reserve to cut interest rates as soon as possible, warning that its aggressive tightening campaign this year raised the likelihood of a deep…

Elon Musk just accused the Fed of 'massively amplifying' the risk of a severe recession

fortune.com Elon Musk jut accused the Fed of ‘massively amplifying’ the risk of a severe recession The world’s wealthiest man has weighed in on the Federal Reserve’s all-or-nothing…

Michael Burry of 'Big Short' fame predicts multi-year US recession

businessinsider.com Michael Burry has predicted the US economy will suffer a multiyear recession. - The 'Big Short' investor sees no way for authorities to end the downturn early. - Burry has…

Cryptocurrency exchange Kraken to cut about 1,100 jobs from its global work force

theglobeandmail.com Cryptocurrency exchange Kraken said on Wednesday it would cut its global work force by 30 per cent, or about 1,100 employees, citing tough market conditions that have…

Kraken Cuts 30% of Workforce Amid Crypto Winter

coindesk.com Crypto exchange Kraken said Wednesday it is laying off 30% of its global staff – around 1,100 people – in response to the crypto market downturn. "We responded by slowing…

Is Applied Materials Stock a Buy With Chip Companies Stumbling Into 2023?

fool.com Share prices of Applied Materials (AMAT 0.03%) are down over 30% this year, roughly in line with the average return for semiconductor stocks in 2022. Investors are fretting…

‘Big Short’ Michael Burry warns there’s no strategy to pull out of this ‘real recession’

finbold.com Renowned investor and hedge fund manager, Michael Burry, commonly known as “The Big Short,” has suggested that the economy is already in a recession while questioning the…

Council Post: Back To Basics: How Retailers Can Focus On Efficiency To Survive And Thrive In A Rocky Economy

forbes.com Jake is the CEO of Edgemesh, a global web acceleration company that empowers ecommerce brands to deliver faster, more streamlined websites. Retailers have undergone…

National Bank of Canada quarterly profit falls on higher expenses, provisions By Reuters

investing.com (Reuters) - National Bank of Canada (OTC:NTIOF) posted a lower fourth-quarter profit on Wednesday, as the Canadian lender set aside higher provisions in the face of an…

National Bank of Canada’s fourth-quarter profit falls on higher expenses, provisions

theglobeandmail.com National Bank of Canada NA-T posted a lower fourth-quarter profit on Wednesday, as the Canadian lender set aside higher provisions in the face of an economic downturn. The…

2 No-Brainer Stocks Down 15% and 53% to Buy for 2023

fool.com Investors are eager to move on from 2022, which has been a challenging year. Stocks of all shapes and sizes have been beaten down, and while tech stocks have faced the brunt…

Smart Investors Should Buy These 3 Stocks, Down Between 46% and 73%, Heading Into 2023

fool.com It's prime time for holiday shopping and investors should be no exception. In fact, 2022 left many great stocks trading at steep discounts, despite their businesses'…

As tech lay-offs spread, Meta sacks 11,000 workers

economist.com On November 9th Meta said it would fire 11,000 people, or 13% of its workforce. It is not the only tech firm to give its workers the boot, as the sector goes through a harsh…

A global manufacturing slowdown suggests worse is to come

economist.com A global manufacturing slowdown suggests worse is to come Recession would be brutal for countries that have still not recovered from covid-19 | Washington, DC “Is a global…

Tech layoffs approach Great Recession levels: 'It was not sustainable or real'

marketwatch.com The number of tech layoffs this year is nearing annual levels seen during the Great Recession, but is far from dot-com-bust territory. As technology companies deal with…

Bank of America CEO predicts two years of pain ahead in the housing market

cnn.com The CEO of one of the nation’s largest banks is preparing for an economic downturn in 2023. But he’s also hopeful that the likely recession will be brief and “mild.” Bank of…

Why UPS Stock Was Moving Higher Today

fool.com What happened Shares of United Parcel Service (UPS 2.30%) were climbing today after the transportation and logistics powerhouse got an upgrade from Deutsche Bank. As of…

Should You Pause 401(k) Contributions in a Bear Market? Morningstar Compares Alternatives

yahoo.com Morningstar recently compared the numbers on different scenarios for investors who may be thinking of pausing their 401(k) contributions. The result was not favorable for…

Vitamins Resilient to Downturn in Asia, Blackmores CEO Says

bloomberg.com Vitamins Resilient to Downturn in Asia, Blackmores CEO Says Bloomberg

Amid Layoffs And Recession Worry, The Good News For Workers

ndtv.com The global economy is stuttering, and some of the world's biggest names are already laying off thousands of employees. But there's a glimmer of good news: This time around,…

Digital Asset Investment Products Saw $23M in Outflows After FTX Collapse

247wallst.com Digital asset investment products recorded $23 million in outflows last week as a part of the latest crypto downturn triggered by the FTX collapse earlier this month.…

Installation of crypto ATMs hits record low in September as downturn continues

fortune.com Installation of crypto ATMs hit record low in September as downturn continued Many facets of the crypto industry took a big hit amid the market downturn, including the use…

There’s a Job-Market Riddle at the Heart of the Coming Recession

yahoo.com (Bloomberg) -- The global economy is stuttering, and some of the world’s biggest names are already laying off thousands of employees. But there’s a glimmer of good news:…

How Middle Managers Can Create Safety Amid A Downturn

forbes.com Joyce Talag is a life, leadership and team coach at Joyful Transformations LLC. She helps leaders thrive and make an impact. Layoffs send shockwaves across organizations and…

Developing A Clear Execution Strategy: Be A Thermostat, Not A Thermometer

forbes.com Sean Cantwell is a managing partner at Volition Capital, focusing primarily on companies in the Software and Tech-Enabled Services sectors. “Be a thermostat, not a…

Report: Nigerian Crypto Exchange Quidax Cuts Its Workforce by 20%

bitcoin.com As it reels from the effects of what it termed a global economic downturn, the Nigerian digital asset exchange platform, Quidax, recently said it had laid off employees who…

This Is What Happens to Silicon Valley in a Downturn

omny.fm The US economy may not be in a recession, but Silicon Valley, which had a mega-boom throughout the 2010s, is in a downturn. Tech stocks have tanked and almost every day…

How bad is the current state of crypto? On-chain analyst explains By Cointelegraph

investing.com Despite the market downturn and the widespread negative sentiment in the industry in the wake of the FTX collapse, on-chain data still show reasons to be bullish on Bitcoin…

CIOs Can Play Key Role in Guiding Companies Through Slowdown

wsj.com Much of tech’s glow during the past few years was a reflection of low interest rates and high demand for connectivity to support remote work, schooling and play during the…

Massively Misunderstood: The Mega-Trend That Makes This Homebuilder Stock Worth Buying

fool.com Housing is in a downturn. Sharp interest rate increases, following years of rising home prices, have brought things to a head, with buyers canceling orders and home sales…

After More Than 380 Days, Crypto Supporters Celebrate Surviving the Second-Longest Bitcoin Bear Market

bitcoin.com On Saturday, members of the forum r/cryptocurrency discussed how the current bear market is now the second-longest bear market in the history of bitcoin prices. According to…

US stocks will slump, inflation will cool, and a recession will hit as a global downturn takes hold, top UBS strategist says

businessinsider.com US stocks could rally in the short term but haven't bottomed yet, Bhanu Baweja said. - The top UBS strategist sees underlying inflation cooling, and the US economy suffering…

Tech Sell-Off: 1 Top Growth Stock Down 79% I'd Buy Without Any Hesitation

fool.com If one thing has characterized 2022 for investors, it's been the bear market, which marks the worst downturn for Wall Street in more than a decade. The Nasdaq Composite is…

No One is Using Some Bitcoin (BTC) ATMs in the Crypto Downturn

bloomberg.com No One is Using Some Bitcoin (BTC) ATMs in the Crypto Downturn Bloomberg

How bad is the current state of crypto? On-chain analyst explains

cointelegraph.com Despite the market downturn and the widespread negative sentiment in the industry in the wake of the FTX collapse, on-chain data still show reasons to be bullish on Bitcoin.…

Crypto Tycoon Jihan Wu’s Matrixport Mulls New Funding At $1.5 Billion Valuation

forbes.com Matrixport, the Singapore-based crypto financial services firm, has received $50 million in commitments from investors at a valuation of $1.5 billion, even amid a broad…

Jump Crypto, Aptos Labs Commit to Binance-Led $1B Recovery Fund

coindesk.com The fund will be used to buy distressed crypto assets following a downturn that has ravaged the industry for the past 12 months. A running theme of bad debt and a lack of…

1 Cheap Logistics Stock to Buy Now and Never Sell

fool.com It's been a little more than a year since GXO Logistics (GXO 3.00%) first went public after it was spun off from XPO Logistics. Shares initially jumped after the separation…

The Fed's own economists are sounding the recession alarm

businessinsider.com The Federal Reserve's staff economists said there's a major risk of a US recession next year. - They flagged tepid consumer spending, foreign headwinds, and tighter…

Multicoin Lost More Than Half Its Crypto Fund’s Capital This Month: Sources

blockworks.co Cryptocurrency-focused asset manager Multicoin Capital lost more than half of its flagship fund’s capital in about two weeks. The drop of about 55% — one of the worst in…

FTX’s failure and SoftBank’s struggles point to a tech investing hangover

economist.com FTX’s failure and SoftBank’s struggles point to a tech investing hangover After the turbocharged years, problems may be emerging for venture capitalists The meeting is a…

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