#7 The Dow dips big time
On Monday, the Dow Jones dipped more than 1,100 points, its largest one-day point decline ever. The sell-off wiped out the Dow as well as the S&P 500 gains for the year. The Nasdaq remained in positive territory but only just.
There are several reasons for this downfall of the markets. Firstly, theres the simple fact that a correction was due: markets have gone up too far, too fast for too long.
Secondly, theres a phenomenon looming on the horizon that investors havent worried about for quite some time now: inflation. This, in combination with a freshly appointed FED chair, feeds rumors about the Federal Reserve raising interest rates sooner and faster than expected.
#6 Millennials find stocks too risky
We recently wrote about millennials and their huge amount of potential wealth as one of the most popular investment themes for this year. Research shows that this generation of investors is less likely to put their money into the stock market than for example Generation X and the generation of baby-boomers.
Instead, millennials seem more willing to put their money in cryptocurrencies
, such as Bitcoin. Their preference for cryptos over currencies is among other things fuelled by the fact that many millennials saw their parents wealth evaporate as a result of the financial crisis in 2008.Related
: 5 Popular Investment Themes for 2018
#5 The first car on Mars?
So this may sound a little crazy, but it truly did happen. This was the week in which Elon Musks company SpaceX successfully sent a red Tesla into space. It was the worlds most powerful rocket, the Falcon Heavy that shot Musks old car on its (at least) six months during journey to Mars.
Funny detail: the launch of the rocket took place with David Bowies song Life on Mars playing on repeat.
#4 Goldman & Apple
According to the Wall Street Journal, a potential collaboration between investment bank Goldman Sachs and technology giant Apple may be on the horizon.
Both companies are thought to be discussing the possibility of Apple customers taking out a Goldman loan rather than charging their Apple purchases like the $1,000 iPhone X for example onto their (often) more expensive credit cards.
#3 Merkel (finally) does it again
Two winners and Merkel a German paper headlined this week. The headline accompanied a photo of two gentlemen and of course Angela Merkel herself, the two men being the leaders of the two parties Merkel hopes to form a coalition with.
Germanys biggest political parties finally reached an agreement and hence ended the longest period the federal republic was without a government since the Second World War (namely four months). That is if the 464 000 members of the left-of-center SPD vote in favor of the coalition over the next weeks...
#2 The big February sell-off continues
It seemed like it was the start of the sale but on the markets the past few days. The big sell-off continued and brought the S&P 500 down to a closing level that was 10% below the record of January 26th.
#1 Salesforce goes big in Canada
While Salesforces CEO and tech billionaire Marc Benioff was shaking hands with the Prime Minister of Canada, Justin Trudeau, his company announced its Canadian plans for the years to come.
Salesforce head-quartered in San Francisco, California will invest 2 billion in Canada over the next 5 years to extend its lead as Canadas #1 Trusted CRM. Its ecosystem of customers & partners will create more than 28 000 new direct jobs and $17 billion in GDP in Canada by 2022.
Salesforce is the global leader in CRM and already the number 1 CRM provider in Canada with more than 1300 local employees.
Thats it again, the sixth week of 2018 captured in 7 Tweets. Well keep tracking Twitter of course and we'll continue to bring you the top financial micro-messages from the web. Have a good start of the week and see you here on Friday!