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The biggest software upgrade in the short history of crypto has fulfilled its promise to wipe out more than 99 percent of the electricity used by the second-biggest cryptocurrency, experts have told AFP.
That is no mean feat, given that the Ethereum blockchain was burning through about as much electricity as New Zealand.
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Wall Street ended sharply lower on Thursday on worries that the Federal Reserve's aggressive fight against inflation could hobble the U.S. economy, and as investors fretted about a rout in global currency and debt markets.
With tech heavyweights Apple Inc (AAPL.O) and Nvidia Corp (NVDA.O) slumping more than 4%, the Nasdaq sank to near its lowest level of 2022, set in mid-June.
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Nations are being forced to go it alone in erecting defences against the relentless strength of the almighty greenback, with no sign that governments are willing to act in concert.
Fueled by hawkish Federal Reserve policy, US economic strength and investors in search of a haven from market swoons,
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Average long-term U.S. mortgage rates jumped by more than a quarter-point this week to their highest level since 2008 as the Federal Reserve intensified its effort to tamp down decades-high inflation and cool the economy.
Mortgage buyer Freddie Mac reported Thursday that the 30-year rate climbed to 6.29%, from 6.02% last week. That’s the highest its been since October of 2008 when the housing market crashed, triggering the Great Recession.
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Wall Street added to its recent gains Friday with a broad rally that broke the market's three-week losing streak.
The S&P 500 closed 1.5% higher, its third straight increase, and ended with a 3.7% gain for the week. That makes it the benchmark index's best week going back to July.
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