Due to Bitcoin's ( BTC-USD ) popularity and dominance, when people hear the word “blockchain,” they automatically think of Bitcoin. However, other cryptocurrencies are out there, even blockchain stocks, which have diverse applications beyond digital currencies.
Some investors have been worried about the recent sell-offs across the global stock markets. The so-called “Carry Trade” between currencies has been abandoned since the Bank of Japan recently decided to hike interest rates.
Fintech looks to be the next big thing. It is incorporating elements from every sector, from hardware (card readers) to software (online payment processing) and now AI in fraud detection.
American stocks were shaken this week as the Dow Jones, S&P 500, and Nasdaq 100 index falling by over 3% on Monday. While these indices have pared back most of these losses, analysts caution that the unwinding of the Japanese yen carry trade is not over.
Monday's sudden market crash disrupted investor sentiment. However, growing recession fears have investors pondering which stocks to sell in anticipation of a potential rotation into the Dow Jones.
Disruptive innovation investor Cathie Wood has not shied away from buying beaten-down tech stocks on the dip in recent weeks. Her Ark line of funds has struggled to beat the rest of the market, especially the tech- and growth stock-focused Nasdaq 100.
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