China makes cryptocurrencies illegal




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Market News

US markets boosted by the Fed’s monetary policy.

Last Week’s Highlights

China bans digital currencies

In another episode of China’s hard crackdown on private capital, the country’s central bank stated that all digital currencies are and should remain illegal in China. The crackdown on digital currencies extends from a joint announcement from Beijing’s toughest and most powerful regulatory agencies, in which they vow to regulate, and avoid all internet transactions to mainland China, filling an otherwise grey area. Following the news most crypto related stocks, and the currencies themselves tumbled on high percentages. 

Fed delays taper and boosts markets

The new Fed policy meeting had investor’s eyes the entire week. Amid the woes in the market because of the Evergrande crisis, monetary policy in the US could help shift the luck of the otherwise bearish sentiment of the week. Fed chairman Jerome Powell made the announcements letting investors know that bond tapering will be delayed, at least until November. This gave a breath of fresh air to the markets, which rose a small amount after days of losses related to Evergrande’s default. 

Coming Up This Week

Huawei’s CFO is released from fraud charges

Meng Wanzhou, CFO of Chinese giant Huawei, was released from house arrest in Canada last week as she reached an agreement with the courts in the U.S after a show of political force from many countries. The Chinese Executive had been held for almost a year for charges of fraud and bypassing US sanctions to China, and had an extradition request from the US. This arrest is considered to be part of the US-China trade wars, as Huawei was sanctioned by the Trump administration, and banned from many US based software uses. 

Germany and Evergrande end the bull market

The biggest European Indices ended the week on a bearish sentiment in a crucial week to the region’s economy. First Germany’s elections are worrying investors as it will mark the policy on business in the block’s largest and most prosperous economy. With the SPD heading the race, many worry of anti-business policies arising in Berlin. However, this was not the only condition that held markets on the downside. Europe may be affected as well by the default of chinese giant Evergrande. Many debt owners, or bond holders are important to the region’s economy, helping the bearish sentiment remain. 

More Things to Sip On…

Elon Musk says Chip Shortage is a short term issue.

The new iPhone 13 hits stores.

DOJ sues American Airlines and Jetblue over antitrust concerns.

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“Successful investing is about managing risk, not avoiding it.”
– Benjamin Graham –

All market information provided was collected in the afternoon of September 24, 2021. The purpose of NewsFlight is to summarize and make accessible information on a variety of topics within the world of investing and personal finance, and thus cannot be considered formal research or reports. All sources utilized to compile the NewsFlight newsletter are considered trustworthy by the Investium team. Investium Limited is not affiliated with and does not receive remuneration from the news sources used to compile NewsFlight. As well, any images or logos incorporated into the NewsFlight newsletter are not necessarily property of Investium and may solely be included to provide context for the news covered. NewsFlight should not be taken as advice to sell or buy securities or to make any investment. When investing in securities or other financial products, there is always the potential to lose money or asset value. Investium recommends that its users consider their investment objectives and risks before investing. Additionally, any projections or analysis made by authors of NewsFlight cannot be considered as a promise of future trends or returns. Opinions expressed in News Flight are not representative of Investium Limited.

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