- The Nasdaq closed 2% lower at 13,070.69 on Friday.
- India is set to ban existing cryptocurrencies in favour of its own.
- Microsoft new wearable computer patent takes tech to the next level.
The US markets suffered the biggest weekly fall since the end of October, last week on the back of the short-selling frenzy and vaccine distribution concerns.
Market volatility in the last week has led to a surge in trading volume on Thursday and Friday to record the most active trading days since 2014.
The tech-heavy Nasdaq fell 2% at 13,070.69, the Dow Jones Index lost 620 points at 29,982.62 and the S&P500 dipped 1.93% at 3,714.24 at close on Friday.
The Australian dollar has slightly weakened to 76 US cents.
Bitcoin rebounded over US$36,600 over the weekend before falling today to trade around US$33,000 at 11am AEDT.
In further crypto-news, India may be the next country to reign in on existing cryptocurrencies to favour its own. India?s lower house of parliament has shared plans to introduce a law that bans ?all private cryptocurrencies? in the country and will establish a ?facilitative framework? for creating an official digital money through the Reserve Bank of India.
As Robinhood continues mopping up the mess the short-selling GameStop frenzy caused last week, the financial services company has begun restricting trade of cryptocurrencies like Dogecoin. The humorous cryptocurrency soared 300%.
The newly established Alphabet Workers Union (AWU) is in turmoil after the public announcement of an international alliance before members were notified. The AWU was set up to run democratically, with a number of union members now reportedly pushing to disaffiliate from the Communications Workers of America.
Microsoft?s new patent will let you wear your computer in the future. The tech giant?s new patent focuses on embedding microcontrollers, integrated circuits, solar cells, [LEDs], batteries, switches and more into a wearable t-shirt design to literally wear your computer anywhere.