Bitcoin chills; U.S. dollar dips; Stocks steady

1. Bitcoin chills: Bitcoin prices are slumping again after South Korea ...

Posted: Dec. 28, 2017 4:30 PM
Updated: Dec. 28, 2017 4:30 PM

1. Bitcoin chills: Bitcoin prices are slumping again after South Korea announced a clampdown on the cryptocurrency.

The country's government said Thursday it was putting in place measures to cool speculation in bitcoin, which has surged by more than 1,300% in 2017.

The measures include a ban on opening anonymous virtual currency accounts and new laws giving authorities the power to shut down digital currency exchanges.

Bitcoin's value plunged more than 10% to below $14,000 on Thursday morning in Asia, according to CoinDesk.com, and continues to be volatile.

2. Dollar dip: The U.S. dollar has been steadily weakening this year and the trend is continuing this morning. The greenback is down by about 0.4% versus many major global currencies, including the euro, British pound and Canadian dollar.

The U.S. dollar index -- which tracks the dollar's performance versus global currencies -- is down by about 11% from its peak at the start of the year.

Before the Bell newsletter: Key market news. In your inbox. Subscribe now!

3. Global stock market overview: U.S. stock futures are indicating stocks could have a positive day on Thursday, but the gains could be very small.

European markets are mostly dipping in early trading, though the moves are modest.

Most Asian markets ended the day with gains.

This follows quiet holiday trading in the U.S. The Dow Jones industrial average, S&P 500 and Nasdaq all eked out tiny gains on Wednesday.

Trading volume at this time of year is usually low.

The top U.S. indexes are all up by 20% to 29% in 2017.

Related: The best global stock markets of 2017

4. Coming this week:

Thursday -- Weekly U.S. crude inventories report out at 11 a.m. ET
Friday
-- Russia reports latest quarterly GDP

Article Comments

West Lafayette
Scattered Clouds
65° wxIcon
Hi: 81° Lo: 60°
Feels Like: 65°
Kokomo
Clear
66° wxIcon
Hi: 79° Lo: 60°
Feels Like: 66°
Rensselaer
Scattered Clouds
66° wxIcon
Hi: 74° Lo: 58°
Feels Like: 66°
Fowler
Scattered Clouds
66° wxIcon
Hi: 75° Lo: 57°
Feels Like: 66°
Williamsport
Clear
65° wxIcon
Hi: 79° Lo: 59°
Feels Like: 65°
Crawfordsville
Scattered Clouds
62° wxIcon
Hi: 79° Lo: 61°
Feels Like: 62°
Frankfort
Broken Clouds
67° wxIcon
Hi: 79° Lo: 61°
Feels Like: 67°
Delphi
Broken Clouds
65° wxIcon
Hi: 80° Lo: 60°
Feels Like: 65°
Monticello
Broken Clouds
65° wxIcon
Hi: 79° Lo: 60°
Feels Like: 65°
Logansport
Clear
64° wxIcon
Hi: 76° Lo: 58°
Feels Like: 64°
After scattering of showers/t'showers, cooler, less humid weather ahead Wednesday.
WLFI Radar
WLFI Temps
WLFI Planner

Community Events