{"id":3448,"date":"2022-03-08T09:56:00","date_gmt":"2022-03-08T09:56:00","guid":{"rendered":"https:\/\/moneymade.wpenginepowered.com\/?p=3448"},"modified":"2025-06-03T17:55:12","modified_gmt":"2025-06-03T17:55:12","slug":"markets-report-03-08-22","status":"publish","type":"post","link":"https:\/\/moneymade.io\/learn\/articles\/markets-report-03-08-22\/","title":{"rendered":"Mar. 8 Markets Report: Everything Sucks\u2026But Hey, There’s a New Batman Movie?"},"content":{"rendered":"\n

Crypto is struggling to separate from the stock market, mortgage rates are yo-yo-ing like crazy, we might be getting our meds in the Metaverse soon, and the release of The Batman proves there’s always an appetite for the classics. Check out the highlights below and click through to the full report to get all the details.<\/em><\/strong><\/p>\n\n\n\n

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We\u2019re nearly two weeks into the Ukraine invasion now, and that begs the question: what is the long-term economic fallout of this war going to be? Let\u2019s take a look at the CNBC Rapid Update<\/a>, a tracker that averages different Wall Street forecasts for the U.S. economy.<\/p>\n\n\n\n

Analysts are now expecting the U.S. GDP to grow 3.2% this year, which is just a tad bit lower than last month\u2019s forecast. Inflation, on the other hand, is expected to rise 4.3% this year. And that is without factoring in how a Russian oil embargo will affect the U.S. economy. Still, the fact that the U.S. is #1 oil producer in the world should help cushion the blow of an oil shock.<\/p>\n\n\n\n

Europe, on the other hand, won\u2019t be so fortunate, since Russia supplies about 40% of the EU\u2019s natural gas imports<\/a>. And with all the economic sanctions they\u2019re currently imposing against Russia, Europe\u2019s economy could be heading for a recession. Russia is even worse off, with JPMorgan expecting a 12% decline<\/a> in the country\u2019s GDP over the coming year.<\/p>\n\n\n\n

In the midst of this macro bearish sentiment, how are different investments performing? Check out the details and get updates on more of your favorite asset classes below.<\/p>\n\n\n\n

Crypto<\/h2>\n\n\n\n

Bitcoin and other cryptos have been struggling to sustain their rallies, given the macroeconomic conditions. After a brief run up to $1.9 trillion, crypto\u2019s total market cap came tumbling back down to $1.65 trillion.<\/p>\n\n\n\n

I think I speak for all the crypto enthusiasts when I say that it\u2019s been disappointing to see safe haven assets like Gold rising while Bitcoin (a.k.a. Digital Gold) remains stagnant. As much as I hate to say it, Bitcoin and the crypto market are still tightly coupled to the stock market. For now, we\u2019re still stuck in a range, waiting for a break above $46K to resume the bull run. That is, if we don\u2019t dip below $34K first.<\/p>\n\n\n\n

Blockchain analytics tool Glassnode showed that investors have been pouring hundreds of millions of dollars into the Grayscale Bitcoin Trust (GBTC)<\/a> since December 2021.<\/p>\n\n\n\n

This tells us that despite crypto\u2019s mediocre performance this year, it continues to garner adoption from institutions:<\/p>\n\n\n\n