1. Global Stock Markets Retreat
Stocks in Asia declined on Wednesday after an overnight plunge on Wall Street as investors worried about a potential economic slowdown and the state of the U.S.-China trade war. Indicatively, NASDAQ Composite (NAS100) dipped 3.8% to close at $7,158.43 while the S&P 500 (SPX500) lost 3.2 percent to finish the day at 2,700.06. In a bearish domino effect, EU Markets also opened in the red on Wednesday morning.*
2. The Crypto Avalanche Continues
Major cryptocurrencies slid across the charts as the crypto sell-off continued. EOS (EOS) tumbled 12.71% today after losing a quarter of its value last week. EOSUSD was last seen at 2.2599 as of 8:00 GMT, which marks a new yearly low for the coin. DASH dipped 7.7% at $80.37, Litecoin lost 5.3% at 29.92 while Ethereum slid 5.1% at $107.26.**
3. Oil Prices Dip On Global Growth Concerns
Oil prices fell on Wednesday, pulled down by a U.S. supply glut and a drop in stock markets as China’s government warned of increasing economic headwinds and as Japan was expected to report another weak GDP quarter. Specifically, International Brent crude oil futures (CL_BRENT) were at $60.99 per barrel at 08:15 GMT, down $1.09, or 1.8 percent, from their last close. U.S. West Texas Intermediate (USOIL) crude futures were at $52.20 per barrel, down $1.02, or 1.9 percent.***
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*Source: Forbes, Dec 5 Nov 21, 2018, 6:25 AM GMT
**Source: Reuters, Dec 5 2018, 4:16 AM GMT
***Source: CNBC, Dec 5 2018, 3:03 AM ET
