Crypto investors are watching for the Federal Reserve’s next announcement for insights on bitcoin (BTC-USD) as macroeconomic concerns loom over the digital currency.
Shares of Chinese EV maker Nio (NIO) are down this morning due to a report from Bloomberg stating the EV maker is weighing the possibility of raising $3 billion dollars from investors amid losses
Lastly, Rite Aid (RAD) shares are down after a report from the Wall Street Journal states that the company is working out a potential bankruptcy plan with creditors, which includes liquidating their stores, potentially closing down over 400 locations in the process.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Video Transcript
– Well, it certainly is a mixed picture for stocks this morning as investors look ahead to a big week with key PCE inflation data. That’s on tap for Friday. And the government shutdown deadline looming in less than a week.
– Well, let’s take a look at some individual movers here. Bitcoin moving lower today now hovering around $26,000 as major macro concerns loom for the cryptocurrencies. Investors, they’re closely watching the Fed’s next decision in November for insight on investing in the riskier asset.
– And NIO is down this morning following reports that the Chinese EV maker is weighing raising $3 billion from investors. This is according to a report from Bloomberg. Now, the report adds to existing concerns about piling losses here for the company.
– And shares of Rite Aid are plunging after news that the company is reportedly considering a bankruptcy plan that would shut down 400 to 500 of its locations according to the Wall Street Journal. The remaining stores would either be sold or taken over by creditors according to the report.