Speculative interest turned to government bonds, with the yield on the 10-year US Treasury note falling to 1.25%, its lowest since last February.
Previous update: Alibaba Group Holding Ltd – ADR has slipped below $211 on Wednesday, shedding another 0.5% in the fifth consecutive day of falls.
This all brings back a sense of deja vu for BABA investors as its IPO spin-off of ANT Group was pulled at the last minute as China had concerns over the firm, which were not helped when Jack Ma appeared publicly critical of the Chinese administration.
From here until $200 is a relatively strong support zone, but a break below would bring a test of lows at $170 from March 2020 into target.
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The DeFi space has been a reservoir of exciting trading opportunities since June 22.
US crude inventories lost another 6 million barrels, helping to stabilise a market that had been on the back foot.
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