Before investing in the stock market, it’s important to have a good working knowledge of current affairs. Values can skyrocket or plummet depending on external factors, so what has driven market sentiment this week?
Wall Street Steadies Itself After Delta Variant Coronavirus Scares
The US has a huge influence over global markets. Therefore, it’s crucial to keep up to date on what’s going on in the markets there.
For example, this week has provided evidence that the American stock market down on Wall Street is steadying itself after fears over the Delta Coronavirus variant.
As cases have risen, stocks on the S&P 500 have fallen.
However, the NASDAQ market has given us some hope. Sources show that there was evidence of small gains before another record finish. Although small gains aren’t usually much to celebrate, this might be a good sign of things to come.
El Salvador Moved Ahead With Bitcoin (BTC) Legal Tender
No matter what else is going on in the world at the moment, the fact that El Salvador just accepted Bitcoin as legal tender – becoming the first country to do so – is big news on the stock market.
Although it was announced months ago, following the El Salvadorean government’s hefty purchase of $21 million worth of bitcoin, the law only came into full effect this week.
Repercussions of this have been felt worldwide, with crypto markets across the globe showing volatility.