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News of the day for March 10, 2025

Bitcoin plunges below $81K as market sentiment hits 'extreme fear' amid widespread crypto selloff.

The mortgage giant Rocket Cos. has agreed to buy Redfin in an all-stock deal valuing the online real-estate brokerage at $1.75 billion.

The brokerage lowered U.S. equities to "neutral" and raised rating on European stocks, excluding UK stocks to "overweight" from "underweight." The Trump administration's massive moves on trade and other policies have injected uncertainty, while a proposed $1.2 trillion European fiscal bazooka and the emergence of China as the tech race leader are marking a potential turning point for investor capital away from the United States. "It is important to stress that we are not turning negative on US equities - but tactically, we see better opportunities elsewhere for now," said HSBC's Global Equity Strategist Alastair Pinder said.

(Bloomberg) -- Emerging-market stocks declined for a second day and currencies halted a four-day rally as concerns grew that China’s deflation is spreading to its consumer economy and Donald Trump’s tariffs threaten US growth.Most Read from BloombergNJ College to Merge With State School After Financial StressTrump Administration Plans to Eliminate Dozens of Housing OfficesNYC Congestion Pricing Toll Gains Support Among City ResidentsWhere New York City's Zoning Reform Will Add HousingBuffalo’s B

The tech-heavy Nasdaq led a selloff among Wall Street's main indexes on Monday, falling over 3% to a near six-month low, on fears that a tit-for-tat tariff war could spark an economic slowdown. The Nasdaq has fallen more than 10% from its December high, and confirmed a correction on Thursday. The CBOE Volatility index, also known as Wall Street's fear gauge, jumped more than 3 points to 26, highest since December 18.

A sea change in German fiscal policy is rapidly transforming global bond markets as it is expected to increase the pool of top-rated, safe-haven debt and propel Germany into a new era of structurally higher government bond yields. The parties hoping to form Germany's next government agreed last week to create a 500 billion euro ($543 billion) infrastructure fund and overhaul borrowing rules. In response, Germany's bond market suffered its biggest weekly selloff since the 1990s, pushing 10-year bond yields up more than 40 basis points to around 2.9%, as investors anticipated a jump in bond sales to fund increased spending.

(Bloomberg) -- The S&P 500 Index’s controlled decline is reducing the odds of a wider market meltdown, according to Nomura Securities cross-asset strategist Charlie McElligott.Most Read from BloombergNJ College to Merge With State School After Financial StressTrump Administration Plans to Eliminate Dozens of Housing OfficesNYC Congestion Pricing Toll Gains Support Among City ResidentsWhere New York City's Zoning Reform Will Add HousingBuffalo’s Billion-Dollar Freeway Fix Is on Ice, But Not Becau

HONG KONG (Reuters) -Global hedge funds continued to sell China equities for a fourth straight week as the renewed enthusiasm for Chinese tech stocks, ignited by low-cost artificial intelligence startup DeepSeek, began to fade, a Goldman Sachs (GS) note showed.

Tesla’s stock has dropped by nearly half in three months. The company's market capitalization has dropped 45% since hitting an all-time high of $1.5 trillion on December 17, erasing most of the gains the stock made after CEO Musk helped finance the election victory of U.S. President Donald Trump. And yet Tesla continues to fetch a valuation far above those of the world’s biggest automotive and technology firms, judging by standard financial metrics.