A super slide for stocks, bonds, and cryptocurrencies rolled all the way into last week, right up until Friday, when the Nasdaq posted its strongest one-day gain since November of 2020. Despite Friday's gains, the major averages posted losses for the week, with the Dow closing down more than 2% and posting its first seven-week losing streak since 2001. The S&P 500 fell 2.5% and hit its longest weekly losing streak since 2011, while the Nasdaq fell 2.8%. It's been a rough, rough year across capital markets. A full $35 trillion in global market value has been erased since the beginning of the year. That's 14% of all global wealth, including a trillion dollars of losses in cryptocurrencies. To put those losses in perspective, 2008 saw a 19% decline in global market value, and that doesn't include non-financial assets such as housing. Still, perspective is everything, especially for investors who have been invested in the U.S. stock market for at least five years. Believe it or not, … [Read more...] about Keeping it Real with Real Vision’s Raoul Pal
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Princess Diana’s Wedding Tiara Headlines Sotheby’s Expansive Tiara Exhibition
Share to Twitter Share to Linkedin Tiaras have again regained their popularity in both popular culture and in the more rarified setting of auction sales where collectors throughout the world are paying increasingly higher prices for these objects of royalty and aristocracy. To mark Queen Elizabeth’s Platinum Jubilee celebration, Sotheby’s London will open the largest tiara exhibition staged in the UK in 20 years. The exhibition will feature approximately 50 tiaras of aristocratic and royal provenance, with some pieces to be exhibited publicly for the first time. Virtually all the tiaras in the exhibition were made for and owned by British nobility and together they offer a comprehensive review of all major tiara design styles, Sotheby’s said in a statement, including the Napoleonic Empire, Romantic Naturalism, Belle Epoque, Art Deco, Modern and Contemporary designs. The exhibition will be open to the public May 28 – June 15. Several tiaras in the … [Read more...] about Princess Diana’s Wedding Tiara Headlines Sotheby’s Expansive Tiara Exhibition
Shares slump as retailer warnings fuel stagflation fears
- A + A LONDON (May 19): Heavy falls in European and Asian stock markets followed Wall Street's worst day since mid-2020 on Thursday, as stark warnings from some of the world's biggest retailers underscored just how hard inflation is biting. Bond markets rallied in the dive for safety and on bets that interest rate rises may get recalibrated, but it was the gloom striking down equities after Wednesday's US$25 billion wipeout in US retailer Target's shares that dominated the action. Europe opened down 1.8%, led by a 2.2% fall in its retail sector, while scarlet red US futures and some sharp overnight drops in China tech firms put 1½-year lows back in focus for MSCI all-country world. "Target and Walmart coming out with disappointing numbers has really, really spooked people," said Close Brothers Asset Management's Chief Investment Officer Robert Alster. "We are going to see a raft of downgrades to US GDP (forecasts) now... it really looks like we are running into … [Read more...] about Shares slump as retailer warnings fuel stagflation fears