List of All Articles with Tag 'tech'

(Reuters) -Photoshop maker Adobe's co-founder John Warnock died on Saturday aged 82, the company said in a statement early on

Bitcoin’s price has crashed dramatically, amid what seems to be a broader worry in the financial markets. The world’s biggest cryptocurrency has fallen more than 7 per cent over the last 24 hours, and almost 12 per cent in the last week. Other large digital currencies saw similar falls, though not as stark. Ethereum, the second biggest cryptocurrency by market cap, has lost around 10 per cent of its value in the last week. The troubles mean that the crypto market as a whole is down 5.7 per cent over the last 24 hours, according to tracking website Coinmarketcap. Trading volumes increased sharply, too, and were up almost 80 per cent over the last 24 hours. Thursday’s drop in the price of the cryptocurrency was the biggest one day fall since November 2022. That happened when large exchange FTX collapsed, sending shockwaves through the crypto markets and leading to widespread fears. This time around, there was no obvious connection to events in the cryptocurrency market. Instead, investors seemed concern about the economy more generally, and more traditional assets were also hit by falls in recent days. Wall Street’s main indexes fell on Friday, extending declines to the fourth session on a drag from megacap growth stocks, as evidence of a resilient U.S. economy fanned fears of interest rates staying higher for longer. The three main US stock indexes are on track for sharp weekly losses as a spate of strong economic data, including a fall in weekly jobless claims, caused investors to dial back expectations of rate cuts and drove up government bond yields. The yield on the 10-year Treasury note hit a ten-month high of 4.328 per cent in the previous session and came within a whisker of its highest level since 2007. “The drivers really have been of late the rising Treasury yields and that is signaling a more risk-off investor sentiment,” said Art Hogan, chief market strategist at B Riley Wealth. “Investors are looking at (better-than-expected economic data) and saying the Fed likely isn’t restrictive enough yet.” Traders see a nearly 91% chance of the Fed holding rates at current levels at its September meeting, according to the CME Group’s FedWatch tool. On Friday, rate-sensitive big technology and growth stocks such as Apple, Microsoft, Tesla and Nvidia slipped between 0.7% and 2.8% even as Treasury yields took a breather. The communication services and technology sectors housing major growth stocks fell 1.6% and 1.0% respectively. The tech-heavy Nasdaq hit an over two-month low and is set to post the biggest weekly declines of the three major indices, down 3 per cent so far. The CBOE volatility index hit its highest in nearly three months, reflecting rising investor anxiety. Additional reporting by Reuters Read More How bad is bitcoin for the environment really? Crypto experts discuss bitcoin price predictions What is Solana? The crypto rising 200-times faster than bitcoin Bitcoin’s price is crashing dramatically PayPal launches dollar-backed cryptocurrency World’s first ‘superfast’ battery offers 400km range from 10 mins charge

Cybersecurity firm Palo Alto Networks Inc. surged after projecting billings for the current quarter that beat Wall Street’s

Reliance Jio Infocomm, the telecom arm of Indian billionaire Mukesh Ambani's Reliance Industries, said on Friday it has

By Elizabeth Howcroft LONDON (Reuters) -Top cryptocurrency bitcoin hit a fresh two-month low on Friday, breaking out of its recent

Elon Musk has arrived in Japan for his first known visit in nine years. The chief executive officer

Instacart Inc. is planning an initial public offering as soon as September, according to people familiar with the

Lyft and Uber threatened to stop doing business in Minneapolis after the city council adopted a new rule Thursday that would set a minimum wage for rideshare drivers.

Bitcoin dropped 7.2% to $26,634 at 21:45 GMT on Thursday, losing $2,067 from its previous close. Bitcoin, the

Applied Materials Inc., the largest US maker of chipmaking machinery, gave a bullish forecast for the current quarter,

Amazon.com Inc. is imposing a new fee on merchants who don’t use the company’s logistics services, a change

By Jesus Calero and Marie Mannes STOCKHOLM (Reuters) -Swedish games developer Embracer on Thursday reported slightly weaker than expected operating