Wary Investors Struggle to Evade Market Turmoil

This year’s market turmoil has spread across risky assets and havens alike, leaving nervous investors questioning where to hide from further pain. The S&P 500 has fallen 24% this year, with all three major US stock indexes heading towards their worst annual performances since 2008. Bonds haven’t provided a ballast to portfolios—the Bloomberg US Aggregate … Read more

Crypto Fugitive Do Kwon’s Firm Accuses Korean Prosecutors of Overreach

The firm behind failed cryptocurrencies TerraUSD and Luna accused South Korean prosecutors of overreaching their authority, two weeks after they issued a warrant for the arrest of its chief executive, Do Kwon. Terraform Labs Pte. Ltd. laid out mr. Kwon’s defense in a statement sent to The Wall Street Journal on Wednesday. A spokesman for … Read more

Lumber Prices Fall Back to Around Their Pre-Covid Levels

Lumber prices have fallen to their lowest level in more than two years, bringing two-by-fours back to what they cost before the pandemic building boom and pointing to a sharp slowdown in construction. Lumber futures ended Tuesday at $429.30 per thousand board feet, down about one-third from a year ago and more than 70% from … Read more

Pensions Brace for Private-Equity Losses

Public pension funds are already reporting big losses in 2022. Things are likely to get uglier. That is because the funds, which manage around $5 trillion in retirement savings for the nation’s teachers, firefighters and other public workers, haven’t yet factored in second-quarter returns on private equity and other illiquid investments. “You should expect sometime … Read more

Buying the Stock-Market Dip Is Backfiring. Investors Keep Piling In Anyway.

Instead of rebounding after a tumble, stocks have continued to fall, burning investors who stepped in to buy shares on sale. The S&P 500 has dropped 1.2% on average this year in the week after a one-day loss of at least 1%, according to Dow Jones Market Data. That is the biggest such decline since … Read more

Buying the Stock-Market Dip Is Backfiring This Year

Instead of rebounding after a tumble, stocks have continued to fall, burning investors who stepped in to buy shares on sale. The S&P 500 has dropped 1.2% on average this year in the week after a one-day loss of at least 1%, according to Dow Jones Market Data. That is the biggest such decline since … Read more

This Should Have Been a Great Year for Gold. Here’s Why It Isn’t.

Investors expected sticky inflation to lift gold prices this year. Instead, the opposite happened. The most actively traded gold contract is on pace to decline for six consecutive months, with a loss of 14% through that period so far. That is a significant drop for an asset that is supposed to be a haven and … Read more

This Should Have Been a Great Year for Gold. Here’s Why It Isn’t.

Investors expected sticky inflation to lift gold prices this year. Instead, the opposite happened. The most actively traded gold contract is on pace to decline for six consecutive months, with a loss of 14% through that period so far. That is a significant drop for an asset that is supposed to be a haven and … Read more

Climbing Interest Rates Fuel Stablecoin War as Binance Makes Move on Rivals

The battle for the stablecoin market is heating up as interest rates continue to rise and the largest players jostle for market share. Binance, the world’s largest crypto exchange, said it would automatically convert users’ deposits of several rival stablecoins into its own stablecoin, Binance USD, starting this month. Analysts say Binance’s decision could escalate … Read more