Market news

On December 4, President-elect Trump announced that his pick for the next Securities and Exchange Commission (SEC) chair would be Paul Atkins. There seems to be a positive response to the news, as Bitcoin quickly traded over $100,000.

As Malecki Law has previously blogged, the current chair, Gary Gensler, has often been perceived a crypto skeptic. Although crypto fans were seemingly hopeful that Hester Peirce would be appointed, a current commissioner who is also known as “Crypto Mom,” the community does not seem disappointed in the direction of the SEC at all. Malecki Law gets sometimes multiple calls a day from people scammed around crypto based investments. This is likely due to the lack of regulation. If your advisor recommended that you purchase crypto securities against your best interests, and you suffered losses, you may have a claim. You should reach out to a Crypto-Securities law firm in New York, like Malecki Law, to review your situation. If someone in a foreign jurisdiction has your money, you may be out of luck.

Future SEC Chair Atkins’ Background

Is another tech-based market crash impending? Are the “FANG” stocks in your best interest?

Tech-based stocks have been facing volatility lately as artificial intelligence (AI) and chip related issues arise. For example, NVDA (Nvidia) dropped over 7% yesterday and META (META Platforms) dropped nearly 3.4%. As for 2024 to date, four big FANG names have been on a downward trend – META, AMZN (Amazon.com), NFLX (Netflix), and GOOGL (Alphabet). Is your portfolio overconcentrated in FANG stocks? Are you “chip-wrecked”? Were these investment recommendations made in your best interest given your goals and needs? If you incurred substantial losses, you may have a case. You need to contact a Tech Stock law firm, like Malecki Law in New York, to review your situation.

Yesterday, on August 5, 2024, financial markets faced a crash worldwide, partially stemming from Japan’s Topix and Nikkei plummeting, 24% and 12% respectively. Yesterday was the worst day in the markets for Japan since the year 1987, this may be derived from the Bank of Japan increasing interest rates under 0.1% to 0.25% just last week, the greatest it has been in over fifteen years. The United States markets had a reactionary slide, including the S&P 500, which dropped 3% in just one day, this was the worst drop since September 2022. However, the S&P is still up nearly 9% for the year, to date. Global financial news should be followed carefully as Japan, China, South Korea, and Taiwan are some of the countries that manufacture most of the chips.

Articles Posted in Market news

Are We Facing a Pro Crypto-Securities Future in the U.S.? – Announcement of the New SEC Chair and the Future of Bill FIT21

Is a “Chip-Wreck” on the Horizon?