Main Takeaway: Tech Stock Earnings Are Over, Complete Bloodshed
Yesterday, Amazon and Apple reported their Q3 earnings, with both stocks dropping on the news. However, the most noteworthy was Amazon as it fell over 10% in after-hours trading. So far this week Meta, Google, Microsoft, and Amazon, have all witnessed their stocks decline. This foreshadows that there’s still significant pain ahead for the US economy. What this means in the crypto context is that these tech stock earnings could be a leading indicator of what’s next for the crypto markets.