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Forex News March 12, 2022

by Seerat Fayaz   ·  March 12, 2022   ·  

Forex News March 12, 2022

by Seerat Fayaz   ·  March 12, 2022   ·  

#edgeforex #market #trading #forex #indices #nasdaq #us #dow #industrial #crypto #gas #prices #cryprocurrency #bitcoin nasdaq

US Indices

The major indices in the United States finish lower. This week’s indexes have fallen four out of five days

  • The NASDAQ index fell 2% on the day.
  • The major indices are nearing session lows. The NASDAQ index was the hardest hit, losing more than 2%.
  • The S&P’s 11 sectors are all down. Consumer discretionary declined by -2.0 percent. Communication dropped by 1.9 percent. The technology sector fell 1.8 percent.
  • The Dow, S&P, and NASDAQ are all on track for weekly losses.
  • Major indices fell on four of the five trading days this week (with one big up day saving the day)
  • Major indices have fallen in six of the last seven trading days; the Dow has suffered its fifth weekly loss in a row.

All major indices surrendered earlier gains.

  • The Dow gave up a 342 point gain, or a 1.03 percent gain.
  • The S&P 500 index lost 32.3 points, or 0.76 percent.
  • The NASDAQ index lost 109.39 points, or 0.83 percent.

The final figures are as follows:

  • Dow industrial average fell -229.9 points, or 0.69 percent, to 32944 point to zero;
  • S&P 500 index fell -55.19 points, or 1.3 percent, to 4204.32 point to zero.
  • The NASDAQ index dropped -286.14 points, or 2.18 percent, to 12843.82; the Russell 2000 dropped -32 points, or 1.59 percent, to 1979.66.
  • Dow industrial average fell -1.99 percent for the trading week • S&P index fell -2.87 percent
  • The NASDAQ index was down 3.53 percent, while the Russell 2000 was down 1.01 percent.

Big losers today included:

  • DiDi, -44.8%
  • Nio, -9.51%
  • Sofi, -9.14%
  • Beyond Meat, -8.97%
  • Celsius -8.92%
  • Snowflake -8.81%
  • Robinhood -8.55%
  • Corsair -7.98%
  • GameStop -7.1%
  • Rivian Motors -7.56%
  • GoodRx, -7.41%
  • AMC -6.79%
  • Alibaba, -6.69%

NASDAQ leads the way to the downside as the week comes to a close.

The major indices are losing ground in the final 15 or 20 minutes of trading:

Dow industrial average is down 150 points, or 0.45 percent, at 33027;

S&P is down 42 points, or 0.99 percent, at 4217.85; NASDAQ index is down 233 points, or 1.78 percent, at 12897; and

Russell 2000 is down 26.65 points, or 1.33 percent, at 1985.01.

The major indices have also fallen this week, with the NASDAQ falling -3.2 percent.

Gas prices

  • Gas prices at the pump in the United States have risen to $4.33, up from $3.48 a month ago. It is a fraction of the price of a gallon of gas in other countries, but AAA reports that the price of a gallon of gas in the United States has risen to $4.33 today. This compares to $3.48 a month ago, a +24.4 percent increase.
  • In comparison to a year ago, the price has risen from $2.82 to $4.33 today. This represents a 53.5 percent increase.
  • As a result, the overall impact isn’t all that significant in terms of dollars and cents
  • There are 3.78 liters in a gallon of gas. So $4.33 a gallon is equal to $1.14 per liter.


  • The United States will not permit the use of cryptocurrency to avoid paying taxes. The United States has stated unequivocally that cryptocurrencies will not be allowed to become a shadow business. Bitcoin increased by 8.8 percent on Wednesday, finishing the day at around $41.9K. The benchmark cryptocurrency appears to have had obvious issues with growth above $42K. On Thursday, we see a similar strong reversal move back to $39K. As a result, Bitcoin has lost 5.6 percent in 24 hours, Ethereum has lost 4.8 percent, and the top ten altcoins have lost anywhere from 1% (Terra) to 7.2 percent (Avalanche).
  • The total capitalization of the crypto market fell by 4.5 percent over the day, to $1.75 trillion, according to CoinMarketCap. The Bitcoin Dominance Index fell from 43.0 to 42.7 percent.
  •  The Cryptocurrency Fear and Greed Index increased by 6 points to 28 and entered “fear” territory.
  • The positive dynamics of stock indices aided Bitcoin’s growth momentum; however, on Thursday morning, the positive pull on them remained in contrast to the sell-off of cryptocurrencies.
  • Bitcoin increased in value after a statement by Janet Yellen appeared on the website of the US Department of the Treasury, which did not include strict measures to control the cryptocurrency market. The statement was likely posted prematurely and quickly removed from the site.
  • Later that day, US President Joe Biden signed the country’s first executive order regulating cryptocurrencies.
  • The document only covered the broadest issues, such as consumer protection, financial stability, technological advancement, and the illegal use of cryptocurrencies. Individual federal departments will develop more specific measures for controlling the digital asset market.
  • The United States has made it clear that it will not allow cryptocurrencies to become a shadow business and be used to avoid sanctions, taxes, and money laundering, among other things. It is more difficult to implement such control than it is with centrally issued fiat money.

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