US30 THE END ?Wall Street dipped on Wednesday on concerns that the spread of the Delta coronavirus variant could slow economic growth and on uncertainty over the timeline for the Federal Reserve to pull back its accommodative policies.
Shares of tech heavyweights were among losers with Microsoft Corp (NASDAQ:MSFT), Facebook Inc (NASDAQ:FB) and Google-owner Alphabet (NASDAQ:GOOGL) Inc were down between 0.1% and 0.6%.
Nine out of eleven sub-sectors fell with economy-sensitive sectors like industrials, materials and real estate leading declines.
Gains in energy shares helped limit some losses with Exxon Mobil (NYSE:XOM), Chevron (NYSE:CVX), Occidental Petroleum (NYSE:OXY) and Halliburton (NYSE:HAL) up between 0.6% and 0.3%, as oil prices jumped on lower output.
U.S. stocks have come under pressure in recent days as investors have turned increasingly cautious following Friday's weak August payrolls data and uncertainty over the Fed's tapering.
"The big question is the uncertainty around the level of economic growth slowdown, tapering and the potential of escalating inflation," said Sam Stovall, chief investment strategist at CFRA.
"Investors are thinking they don't want to be highly exposed towards potential growth sectors, instead the interest remains towards the safety of tech stocks."
St. Louis Federal Reserve Bank President James Bullard told the Financial Times that the U.S. Federal Reserve should move forward with a plan to trim its massive pandemic stimulus program despite a slowdown in job growth.
Stovall said CFRA economists are lowering the growth forecasts for the third quarter, but were still optimistic for the wider economy to grow for the rest of the year.
The S&P 500 and the Nasdaq have gained around 20% so far this year on support from easy central bank policies, but a jump in coronavirus infections and weak economic data have raised worries on the pace of economic recovery.
At 10:17 a.m. ET, the Dow Jones Industrial Average was down 11.74 points, or 0.03%, at 35,088.26, the S&P 500 was down 2.96 points, or 0.07%, at 4,517.07, and the Nasdaq Composite was down 43.66 points, or 0.28%, at 15,330.67.
Perrigo Company (NYSE:PRGO) Plc jumped 6.1% after the drugmaker said it plans to buy HRA Pharma from investment firms Astorg and Goldman Sachs (NYSE:GS) Asset Management in a deal valued at 1.8 billion euros ($2.13 billion).
Cryptocurrency exchange Coinbase (NASDAQ:COIN) Global Inc fell 3.5% after the U.S. securities regulator threatened to sue the firm if it goes ahead with plans to launch a crypto lending scheme.
Declining issues outnumbered advancers for a 1.29-to-1 ratio on the NYSE and for a 2.13-to-1 ratio on the Nasdaq.
The S&P index recorded 13 new 52-week highs and one new low, while the Nasdaq recorded 31 new highs and 16 new lows.
Globalsymmetry
BTC 56K LOADING ! Follow For moreBitcoin, the world’s first and largest cryptocurrency, is back above $50,000 on Thursday. Bitcoin reached this level on August 23, before pulling back.
BTC is up 5.5% in the last 24 hours, according to CoinGecko, peaking at the local high of $50,171. With a market cap of $941.6 billion, Bitcoin currently dominates 40.6% of the market.
While this can be considered a rather positive start to a new month, historically September has been a difficult month for Bitcoin bulls.
Data from bybt.com shows that investors have suffered losses in September for the past four years in a row, with maximum monthly returns slightly exceeding 6%.
BAKE GETTING READY TO FLY ! Launched in September 2020, BakeryToken (BAKE) is a part of the BakerySwap ecosystem. Liquidity providers are rewarded with BAKE tokens which can be used to earn a share of BakerySwap’s trading fees and to participate in voting as part of BakerySwap’s governance process.
BakerySwap is a decentralized automated market-making (AMM) protocol that is based on the Binance Smart Chain (BSC). The BAKE token is a native BEP-20 governance token on the platform.
Users have the ability to earn BAKE tokens by providing liquidity on BakerySwap, and BAKE holders can use their tokens for governance voting and to receive transaction fee dividends. The BAKE rewards are offered in several liquidity pools, initially including BTC, ETH, DOT, LINK, BUSD and BAKE versus BNB.
Who Are the Founders of BakeryToken?
The team behind BakeryToken is an anonymous group of developers who believe in the future of decentralized autonomous organizations (DAOs).
What Makes BakeryToken Unique?
Bakery Swap runs on the Binance Smart Chain. The BAKE-BNB pool is expected to provide ten times the rewards compared to other pools.
BakerySwap, a Binance Smart Chain-based AMM, offers liquidity pools for altcoins such as LINK, DOT and others. It works through initial liquidity pools. BakerySwap has two types of liquidity pools: with BAKE rewards and without them. This is done in order to facilitate the creation of new liquidity pools by the community.
Only designated pools will have BAKE rewards. The reward multiplier for each will vary based on the value they provide to BAKE holders.
BakerySwap charges a 0.30% fee on all swaps and trades, out of which 0.25% go to liquidity providers.
The liquidity providers are then given liquidity pool tokens that represent their share of each pool. Through these tokens, they can earn a portion of the fees that are collected in the pools when removing the liquidity. Liquidity providers can then stake Bakery LP tokens to farm BAKE token rewards.
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Learn about Crypto ETFs on CoinMarketCap Alexandria.
Stay in the loop about everything cryptocurrency on the CoinMarketCap blog.
How Is the BakeryToken Network Secured?
The BakeryToken network is secured through the use of real-time security monitors and intelligence systems. It has on-chain monitoring and passes many security checks.
Where Can You Buy BakeryToken (BAKE)?
BakeryToken (BAKE) can be purchased or sold on the following exchanges:
Binance
Gate.io
PancakeSwap
Hotbit
Anyswap
