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Dow Jones faces the brunt of the plunging retail sales; down by over 100 points

Namrata Shukla

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Dow Jones faces the brunt of the plunging retail sales; down by over 100 points
Source: Pixabay

Thursday was an unexpectedly shocking day for Wall Street as it fell as the measure of consumer spending unexpectedly suffered a massive decline at the end of 2018, even after the holiday season, recreating expectations for slowing growth in the world’s largest economy.

The Dow Jones Industrial Average fell above 100 points or 0.5%, along with S&P 500 and the Nasdaq Composite, which fell by 0.4% and 0.1% respectively. Retail sales faced a fall of 1.2% in December, informed Commerce Department as per The Street. This plunge is the largest drop since September 2009.

Source: Trading View

Source: Trading View

The market opened at 25,460.65 and closed at 25,439.39. It reached its peak at 25,558.90 points, while the lowest point was marked at 25,308.09.

Looking at the current market situation, one of the Twitter users, @ThinkTankCharts tweeted:



“The Dow Jones – negative RSI divergence proved to be a NT selling point, with the Retail Sales number. The evening star was negated with yesterday’s movement.”

Another user @Jimboconnor, said:

“Dow Jones 4Hr, finally breaking trend from Dec….Warning sign of a turn? “

However one of the Twitter users, @Infinitrade1, seems very positive as he/she advised people to trade Dow Jones, saying:

“The optimism of investors is rising as they expect the Dow Jones to surge following the trade deal talks between president Donald Trump and China. The Dow Jones could retain its momentum in the midst of the struggle of China.
Trade Dow Jones now!
#infinitrade #dowjones #stock”





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Financial Conduct Authority [FCA] issues warning against fraud cryptocurrency clone firm

Sarvesh Kumar

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Crypto-clone firms on a prowl
Source: Pixabay

The Financial Conduct Authority (FCA) has warned people of a cryptocurrency clone firm, going by the name – ICAP Crypto. It is a crypto-clone company of the ICAP Europe Limited. Their modus operandi is that they use the information of people taken from a credible firm and show themselves as a legit organization.

The original firm goes with the name ICAP Europe Limited, which is registered and legalized by the FCA. The clone company has been using the credentials of the true company and scamming people.



FCA, in the past too, have warned investors of two such companies that were cloning themselves as cryptocurrency firms. The firms went by the names Fair Oaks Crypto and Good Crypto. Fair Oaks Crypto targeted people by cloning itself with Fair Oaks Capital, while the latter, Good Crypto tagged itself with Corporate Finance and scammed people by misrepresenting the registered information of the people.

Forex and crypto backers have been scammed to the tune of $34 million by these companies in the near past, according to a statement by the FCA. The FCA is also looking at banning “high-risk derivative products connected to cryptocurrencies”. FCA has given permission to three blockchain enterprises to work under its regulatory body.





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