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    Inflation worries spook US stocks

    adminadmin Bitcoin 2021-05-19 27 0

    Recommend a piece of the latest news about Bitcoin, from CNN news:Inflation worries spook US stocks.

    The news summary is as follows:

    Bitcoin and other cryptocurrencies are plunging as anxiety spreads through the market — this time, after China took more steps to crack down on the digital coins. The world's most heavily traded cryptocurrency plunged 10% Wednesday to trade at $40,728 per coin, according to Coindesk, a news and information website specializing in crypto assets. That's bitcoin's lowest level since February. It also represents a 36% drop since hitting a record $63,347 in April. Read more here. Burger King's new chicken sandwich is here, and it's entering a market that's more crowded than ever. The burger chain first announced its new chicken sandwich in February. Since then, it has been rolling out the sandwich — served on a potato bun with pickles and a savory sauce — across its US stores. Burger King worked on its sandwich for about two years before bringing it to market, Ellie Doty, chief marketing office for Burger King North America, told CNN Business. To help distinguish the product, Burger King also renamed the sandwich, calling it the Ch'King (previously, it had been referred to as the hand-breaded crispy chicken sandwich. ) Read more here. US stock futures sank again Wednesday morning as investors continue to fear inflation. Wall Street worries that if inflation gets out of hand, the Fed will be forced to wind down its easy money and bond-buying policies that are supporting the economy and stocks. The Federal Reserve releases its latest minutes this afternoon. Here's where things stand as of 6:15 am ET: The Dow fell is fell 254 points, or 0. 75%. \nThe S&P 500 is 0. 93% lower. \nThe Nasdaq Composite declined 1. 39%. China and the United States are in a race for scarce commodities to rebuild their economies after the pandemic. That's pushing prices through the roof — and is now threatening to throw Beijing's recovery plans off course. The cost of everything needed for China's post-pandemic infrastructure boom, from steel and coal to glass and cement, is soaring. The price of rebar, a type of steel used to reinforce concrete, recently hit 6,200 yuan ($965) per metric ton in Shanghai, up 40% this year, and a new record high. Iron ore, which is used to make steel, has topped 1,240 yuan per metric ton ($194) on the Dalian Futures Exchange, a 25% increase since the start of the year. Read more here. "},{"_id":"h_c80f34efea2e493098d331df9a7496f9

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    This news posted at 2021-05-18T18:15:12. 514Z
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