Market participants and academics have devoted a great deal time analyzing whether Bitcoin and other cryptocurrencies are investments or something else. A paper published this month by Yale University researchers took a look at the inverse question: how might traditional investments be affected by cryptocurrencies? Surprisingly, the authors find that obvious sectors to be disrupted by crypto—finance, wholesale and retail—are not affected but others have reason to fear or cheer crypto.
Ethereum was trading at $258.36 by 18:10 (17:10 GMT) on the Investing.com Index on Tuesday, down 13.91% on the day. It was the largest one-day percentage loss since March 29.
Ethereum fell bellow the $260.67 level on Tuesday. Ethereum was trading at 260.67 by 16:49 (15:49 GMT) on the Investing.com Index, down 21% on the day. It was the largest one-day percentage loss since March 18.
U.K. equities were lower at the close on Wednesday, as losses in the Industrial Metals & Mining, Mining and Oil Equipment Services & Distribution sectors propelled shares lower.
Chevron (NYSE:CVX) fell by 3.14% to trade at $118.73 by 15:51 (14:51 GMT) on Wednesday on the NYSE exchange, down 3.14% on the day.