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Bitcoin Falls To 6-Week Low As Binance Hack Accelerates Losses
Summary by Seeking Alpha
6 Articles
6 Articles
Bitcoin Falls To 6-Week Low As Binance Hack Accelerates Losses
·Jersey City, United States
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Intel shares plunged 29% on Friday, marking the biggest single-day drop on record, while the Nasdaq recorded its worst month in over a year. Google search growth slowed, and Amazon saw a $33.5 billion outflow of free cash flow in a single quarter, indicating that the logic of tech giants relying on profits to "cover their losses" is beginning to crumble.
The results of Amazon and Intel deepen doubts about spending on artificial intelligence, while an attack on Binance and the risk of military escalation with Iran increase risk aversion.
Tech giants are burning cash to finance a massive AI investment. Nasdaq fell nearly three percent on the last trading day of the month.
Coverage Details
Total News Sources6
Leaning Left0Leaning Right1Center1Last UpdatedBias Distribution50% Center, 50% Right
Bias Distribution
- 50% of the sources are Center, 50% of the sources lean Right
50% Right
C 50%
R 50%
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