In this week’s recap, the UK market lost its position as Europe’s most-valued, due to fears of a recession in the kingdom & surging sales at French luxury goods makers thought to be behind the shift. US markets ended slightly lower.
In Cryptos news, here Come “Programmable Dollars”: New York Fed and 12 banking giants launch digital dollar test for a 12-week testing period. Monday morning Bitcoin fell to 2 year low. Users removed $3.7 billion in crypto from exchanges last week.
In political news, G20 pushes vaccine passports to “facilitate” future international travels. Trump is aiming become 2nd commander-in-chief ever elected to 2 nonconsecutive terms after Grover Cleveland late 19th century. Republicans also secure a majority in the House of Representatives.
In economic news, US home sales fell nationwide for the 9th consecutive month in October. High mortgage rates (over 7%) & persistently high prices continue to push buyers out. Layoffs spreading through US Big Tech.
On Wednesday, Elon Musk said he had extended his time at Twitter & eventually will find a new leader to run it. He hoped to complete an organizational restructuring this week. Tesla investors are increasingly concerned about the time Musk is devoting to turning around Twitter.
According to the projection by the UN, the baby born somewhere will be the world’s 8 billionth person; Fake news Russian missiles landed in Poland actually from Ukraine; Elon Musk Just Revealed That Spacex Keep Detecting Something Massive During Their Missions.