10 things you need to know before the opening bell

Spencer Platt

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Here’s what you need to know before markets open.

1. Global stocks drop as 10-year Treasury yields pierce 1.5% for the first time since the pandemic. Asian stocks plunged overnight as markets continued to digest the rise in yields.

2. Bitcoin slides as much as 11% to below $45,000 as the currency heads for its worst week since last March. Bitcoin recovered some ground to around $46,000 but remained well off recent highs.

3. Elon Musk says it would be ‘awesome’ if the SEC probes his tweets on Dogecoin. Musk has been a key driver of the recent boom in cryptocurrencies.

4. Huge outflows cause Grayscale Bitcoin Trust to sink to first discount since 2017. The fall into discount territory from hefty premiums highlights the extent to which investors have cooled on the fund this week.

5. GameStop short-sellers have lost $1.9 billion in just 2 days amid the stock’s latest spike. Reddit traders are boosting the meme stock all over again.

6. Earnings expected. British Airways-owner IAG reported a sharp loss, and Liberty Broadband and Draftkings release figures.

7. On the data docket. US personal spending figures are released.

8. Famed investor Cathie Wood has staffed her firm with analysts in their 20s and 30s as she looks to predict the future. 2 analysts break down what it’s like to work at Ark Invest.

9. An investment strategist shares the 2 reasons why he thinks bitcoin will fall to $25,000 by July. Luke Lloyd also details why it will see a sharp recovery above $100,000 by year-end.

10. A fund manager who’s beaten 99% of peers over the past 5 years explains why buying beaten-down stocks is the best strategy for the next half-decade. Eli Salzmann also shares 2 stocks offering explosive margin growth.

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