That was quite a day. The tech wreck continued, leading the drop in stocks. Commodities did the unthinkable and tumbled on the day but Gold and Cryptos gained as the dollar dumped into the red for the year.
Source: Bloomberg
Dallas Fed s Kaplan warned that he was cognizant of excess risk-taking in financial markets . Maybe turn the taps off then?
🠦 Monetary policy since March 2020.. pic.twitter.com/kPgQXol3VJ PiQ (@PriapusIQ) May 10, 2021
The Dow topped 35k for the first time ever but was unable to hold gains and ended its win streak at 5 days. The US cash open sparked panic-selling in Small Caps and Big-Tech and they never really looked back. All major indices were hit to the downside around 1415ET (a .
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Saudis Bet ‘Drill, Baby, Drill’ Over in Push for Pricier Oil
Bloomberg 3/5/2021 Javier Blas, Grant Smith and Salma El Wardany
(Bloomberg) Saudi Arabia just made a high-stakes wager that the glory days of U.S. shale, which transformed the global energy map in the last decade, are never coming back.
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By keeping a tight grip on supply at Thursday’s meeting of the OPEC+ alliance of oil producers, Saudi Energy Minister Prince Abdulaziz bin Salman showed he’s focused on boosting prices and confident that this time around it won’t encourage American producers to surge back and steal market share.
Saudis Bet Against Return of USA Shale Glory Days rigzone.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from rigzone.com Daily Mail and Mail on Sunday newspapers.