The major indexes closed the week with significant losses despite the steep gains on Friday.
The S&P 500 lost 2.5%, the Dow lost 2%, and the Nasdaq lost 2.8% for the week. Cryptocurrencies rebounded Friday after this week's debacle, but are still losing weekly money.
The market closed at 4:00 pm on Friday.
According to a report, Musk is trying to get new financing so he isn't directly responsible for the takeover. In gaining commitments from new investors, Musk could eliminate the need for a margin loan as well as the potential that he puts up more of his cash.
The market exodus has begun, but the bottom hasn't yet been reached, according to analysts at Bank of America. According to the analysts, the ultimate lows are still to come.
Hester Peirce, SEC Commissioner, said that the market needs to allow for trial and error and account for variations between stable coins.
Millions of customers are suing Coinbase, accusing the exchange of misleading them about a stable coin.
The junk bonds of the company are worth almost as little as Russia's.
West Texas Intermediate was up 3.61% to $110.87 a barrel. The international benchmark for crude oil moved up 3.61% to $111.39 a barrel.
The price of gold was $1,806.20 per ounce. The 10-year yield went up by more than 12 basis points.
The price of the digital currency rose to $29.93.54.
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