🚨🚨BREAKING NEWS TONIGHT🚨🚨
On May 30th, both the stock market and cryptocurrencies faced significant downward pressure due to several main reasons:
1. Foreign capital withdrawal from the Asian market
Foreign investors are concerned about economic policies and the macroeconomic situation of major economies, leading to capital outflows from Southeast Asia in general and Vietnam in particular. As a result, the VN-Index closed down 9.26 points (-0.69%), at 1,332.6 points with nearly 450 stocks declining in price.
2. Shifting capital flows between sectors
Many investors took profits in large stock groups, seeking refuge in "safe haven" stocks like steel or securities, causing market breadth to narrow and the VN-Index to lose the 1,340 point mark.
3. Global macroeconomic concerns
In the crypto market, Bitcoin plummeted back below 106,000 USD, affected by geopolitical tensions and concerns about slowing global economic growth. The entire cryptocurrency market capitalization evaporated by more than 2% compared to yesterday.
In summary, the combination of foreign capital withdrawal, the reallocation of domestic capital flows, and global macroeconomic pressures led to a significant decline in the overall "market" today.