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After a whipsaw end to the month, the stock market's decline was highlighted by the worst month for chip stocks in 24 years.
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The trio of dissenters at the Federal Reserve who backed an increase in interest rates this week contend high inflation could get entrenched in the economy unless the central bank acts decisively to get prices under control.
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Apple stock falls on weak revenue forecast as CEO Tim Cook flags 'increasing impact' from memory shortage Yahoo FinanceTim Cook signed off on his final Apple earnings call with a warning about a ‘hundred year flood' in memory chip pricing fortune.comApple's Profit Is Up 27%, but Expectations for Current Quarter Disappoint The New York TimesApple earnings takeaways: Weak forecast, supply concerns overshadow sales beat in Cook's last report as CEO
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Trump says Hamas agreed to next phase of Gaza peace deal, including disarmament, negotiated by "Board of Peace" CBS NewsU.S. Says Hamas Has Agreed to Broad Plan to Disarm WSJA high-stakes test for Trump's Gaza ceasefire board as Hamas disarmament looms The Washington PostTrump says Board of Peace has reached agreement for disarmament of Hamas BBC
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US cyber defence agency warns of water attacks after Minnesota targeted BBCU.S. Sees Iran as Likely Behind Cyberattack on Minnesota Water Systems The New York TimesU.S. investigating whether Iran was behind cyberattack on Minnesota water systems CBS NewsUS cyber defense agency warns hackers are increasingly targeting water systems Reuters
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Cryptocurrencies, or digital assets, have gone through a lot of turmoil so far in 2022. Since their high-water mark in late 2021, major assets like Bitcoin and Ethereum have seen dramatic pullbacks in prices. These pullbacks created a chain reaction in other areas of the digital asset market, which ultimately led to the bankruptcy of several crypto platforms - and a crash that wiped out the value of a few large cryptocurrencies.
Many coins have seen massive price drops since their all-time highs and have not recovered. As an investor, how should you approach crypto now?
Crypto basics & recent tumbles
First, a brief synopsis of crypto and recent major events:
The blockchain technology used to trade cryptocurrencies has been hailed as a game-changer for the future of currency. Users can "confirm transactions without a need for a central clearing authority," which democratizes access to the economy, especially for those who have historically not had access to financial institutions. Cryptocurrencies like Bitcoin, Ethereum and other coins or tokens are simply an alternative form of payment known as digital currencies. While potential drives crypto's allure, so does speculation. And even though crypto has been lauded as "inflation-proof," its recent tumbles affect their market value rapidly.
SEE MORE Crypto in My 401(k)? In One Way It Makes Sense, But on the Other Hand …
One of the major events that occurred recently was the dramatic collapse in value of
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