Day: September 5, 2020

Stocks fall but end off session lows as investors continue to rotate out of tech and momentum sectors

Stocks finished with losses but off session lows in choppy trade on Wall Street on Friday, with some previously unloved sectors finding support as technology and other highflying segments felt the pressure of continued profit-taking.

U.S. markets on Monday will be closed in observance of Labor Day, a factor that might have added to market volatility by sapping volume in the run-up to the long holiday weekend.

How did stock-market benchmarks perform?

The Dow Jones Industrial Average
DJIA,
-0.56%

closed 159.42 points lower, down 0.6%, at 28133.31, after falling 628 points at its session low. The blue-chip gauge bounced in the final hour of trading, briefly pushing back into positive territory before falling back. The S&P 500 index
SPX,
-0.81%

dropped 28.10 points, or 0.8%, to finish at 3,426.96, while the Nasdaq Composite Index
COMP,
-1.26%

declined 144.97 points, or 1.3%, to end at 11,313.13. The tech-heavy Nasdaq saw

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Utility Over Decentralized Finance: DeFi vs. CeFi

By Alex Mashinsky

When the Industrial Revolution began, the gold standard was in place to help remove the risks of currency fluctuations from international trade and prevent governments from printing money and inducing inflation — the same type of fiat inflation we are seeing now, almost 100 years later. As the Fed continues to print money as the solution to every problem, we only had a few times in the last 50 years where we earned more than we borrowed. Decentralized Finance (DeFi) projects can use this history to guide them in solving issues that have plagued the financial industry since we went off the gold standard in 1971. To do this, they need to assess the risks of propagating the financial services conveniently offered to us by Wall Street, and look to merge the benefits of DeFi + CeFi (centralized finance) utility to deliver financial freedom to 7.5B people

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Surge in Insurance Inquiry surveys

Our Insurance Inquiry has attracted a huge public response, with more than 700 surveys completed by small businesses so far.

Small businesses have until Sunday (30 August, 2020) to share their experiences with insurance providers by completing the online survey.

We’ve had an overwhelming response to this inquiry since we launched it earlier this month, which shows how big an issue insurance accessibility is for small businesses.

The feedback we’ve had from small businesses so far has been insightful and concerning, with many small businesses claiming to have been denied insurance outright.

This is particularly the case for many small businesses seeking public liability insurance, which is essential to continue their operations.

We’ve heard from a number of small businesses that have been unable to get insurance for natural disasters.

Cost has also emerged as a major issue, with many small businesses complaining their insurance premiums have doubled or even

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