Listen to the audio:
What Moved Global Markets
– Wall Street’s main indexes fell about 1% on Wednesday after a report said a “phase one” trade deal between Washington and Beijing may not be completed this year. Indexes fall: Dow 0.90%, S&P 0.88%, Nasdaq 1.13% (Updates to early afternoon).
– Oil jumps! WTI crude futures gained more than 3% on Wednesday as data showed a smaller-than-expected build in US inventory. Crude inventories in the United States increased by 1.4 million barrels for the week ending Nov. 15, less than the 1.6 million barrels analysts surveyed by S&P Global Platts had been expecting. Rising tensions in the Middle East could also be impacting oil prices since one-fifth of the world’s oil flows through the Strait of Hormuz.
– Saudi Arabia’s King Salman said on Wednesday the kingdom’s oil policy aims to promote stability in global oil markets, and serves consumers and producers alike.
Ethereum: Down 1.21% to $175.70
Total trading volume (24h): $7.17+ billion USD
Some analysts say that the crypto market is actually getting ready for a big-time panic, but so far prices mark red, being down within 1-2 percent. This refers to the top 5 cryptocurrencies, except for Tether.
3 biggest movers 24 hours
Biggest Mover 1: EXMR is up 496.28% to $0.526180
Biggest Mover 2: INMAX is up 104.89% to $0.084370
Biggest Loser: BitBall is down 94.15% to $0.002760 (from the biggest mover to the biggest loser)
What moved Crypto Markets (i.e. digital assets)
– The Monetary Authority of Singapore (MAS), the country’s de facto central bank and financial regulator, has just proposed to allow the listing and trading of cryptocurrency derivatives on approved local exchanges. The plan has been put forth in response to interest from institutional investors such as hedge funds and asset managers, the MAS said.
– Things also getting serious for blockchain and China. The Standardization Administration of China (SAC), the standards organization authorized by the State Council of China, has set up a national standards committee for blockchain technology to boost “high-tech innovation.”
Fintech: Russia’s largest bank, the state-owned Sberbank, has pioneered a blockchain solution for repurchase agreements — also known as repo. According to a Sberbank announcement on Nov. 19, the bank has been awarded a patent for the solution, which uses smart contract technology to automate repo transactions between parties.
Healthtech: goes into space. Nano-electronics and digital technology research and innovation hub imec has received NASA funding to test technology for monitoring astronauts’ health status under zero gravity conditions using a disposable diagnostic developed by imec spin-off, miDiagnostics.
Al: Big fish coming to the AI market. Sony establishes A.I. arm that will focus on gaming and food. It will have offices in the US, Europe and Japan.
Smart cities: El Venezia Mexicana! An Italian architecture firm has proposed a sustainable city for Mexico. The plans calls for a 100 percent self-sufficient metropolis, with renewable energy, Venetian canals, and endless green space. This design is one of many “smart city” proposals as of late that point to a new form of urbanism.
NexChangeNOW Pick of the Day
The People’s Liberation Army Could Get Blockchained. The PLA could reportedly use the technology to store military personnel data including basic information, career path, and missions undertaken.