- Wall Street traders gearing up for this week’s Federal Reserve decision kept driving a rotation out of the tech megacaps that have powered the bull market in stocks.
- As bets on a half-point Fed cut on Wednesday kept growing, money continued to flow into economically sensitive corners of the market and out the perceived safety of big tech.
- The S&P 500 fell 0.3%. Banks largely outperformed the broader market as a top analyst said prospects for a soft economic landing should trump margin pressures.
- Hedge funds are back to buying big technology stocks, according to a recent Morgan Stanley’s prime brokerage report. Conversely, defensive sectors have been net sold as the fundd trimmed their exposure across real estate, health care and utilities.
Meme Coin Meltdown: Top 10 Tokens Plunge 63.73% from Their Peak Values
The meme coin market has seen a significant decrease, with the top 10 coins down 63.73% from their peak. This decline is due to market volatility and investors’ hesitance to invest in these assets because of the high risk. OVER THE PASTTHE TO 10 $MEMECOIN HAVE DROPPED AN AVERAGE ON 63.73% THEIR PEAK -57.93%:70.86%-58.16$WIF -70.93%$BONK -64.63%$FLOKI: -65.97%$BRETT: -62.59%$POPCAT: -43.77%$BOME: -79.48%$MEW: -62.99% Lookonchain data shows that the value of these coins has reduced drastically, in