![Recession fear looms, Twitter deal weighs on the TWTR share price, oil down, crypto stabilize [Video]](https://sonsoftoshi.com/wp-content/uploads/2022/05/oil-pump-1843603_Large.jpg)
New week begins on a damaging notice; the Friday reduction throughout the US equities, and which was placed on the again of Jerome Powell saying that the larger price hikes are off the desk for now, couldn’t stop the Dow Jones prolonged losses for the seventh consecutive week, the longest shedding collection streak since 2001. Nasdaq fell close to 3% and the S&P500 ended final week close to 2.5% decrease, on the cusp of the bear market.
Exercise in US and European futures trace that Friday’s rebound was definitely nothing greater than a useless cat bounce.
Recession worries weigh on threat sentiment.
And the danger of Elon Musk strolling away from the Twitter deal weighs on the TWTR share value.
Within the vitality markets, the barrel of US crude trades beneath the $110 mark on recession worries, however the mounting geopolitical tensions in Europe will definitely restrict the selloff, as Finland and Sweden at the moment are prepared to hitch NATO.
In cryptocurrencies, Bitcoin and Ethereum shrugged off the stress of the Terra greenback’s collapse final week, and stabilized above the $30K and the $2000 respectively over the weekend.
