A home awaits sale at a reduced asking price in Glendale, California. David McNew | Getty Images The historic run-up in home prices during the first two years of the pandemic gave homeowners record amounts of new home equity. Since May, however, about $1.5 trillion of that has vanished, according
(Bloomberg) — Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast. Most Read from Bloomberg Global finance chiefs gather in Washington in the coming days with the warning of a possible $4 trillion loss in the world’s economic output ringing in their ears.
Houses in Hercules, California, US, on Tuesday, May 31, 2022. Homebuyers are facing a worsening affordability situation with mortgage rates hovering around the highest levels in more than a decade. David Paul Morris | Bloomberg | Getty Images Homeowners are in the money, and it just keeps coming. Two years
(Bloomberg) — Wall Street traders are bracing for fresh equity-market fireworks Friday after another week of global turbulence. Most Read from Bloomberg In a quarterly event known as triple witching, roughly $3.5 trillion of single-stock and index-level options are set to expire, according to Goldman Sachs Group Inc. At the
The next commodity supercycle could start and end with Chinese graphite, the single most important battery material right now in terms of supply and demand. And one of the world’s top producers is a North American company with processing facilities set up in China right next to one of the
As a company that has innovated and dominated the technology space for decades, it’s no surprise that Apple has broken a seemingly impossible record when it comes to company valuation. Bloomberg | Getty Images Apple has officially reached a $3 trillion market valuation, making it the first company to accomplish
Tesla’s (TSLA) market cap fell below $1 trillion as shares of the electric vehicle (EV) giant were under pressure on Monday. Tesla’s stock was trading down more than 4.5% during the morning session. The company’s market cap currently sits just above $990 billion. Over the weekend CEO Elon Musk said
The total cryptocurrency market topped $3 trillion Monday, for the first time, according to data from CoinGecko. Market capitalization of the crypto market has gained more than 280% since the start of this year. That rally for crypto has been at least partly fueled by a run-up in Ethereum, which