Bitcoin registers modest gains, equities tick lower to close the quarter: this week in markets
Traditional markets were in tumult this week, with U.S. stock indices closing the week and the quarter down.Bitcoin was up about 1% over the past week at $19,229, while
"New Chancellor Kwasi Kwarteng’s tax-slashing, deficit-ballooning Budget — let’s call a spade a spade — was met with a mixture of surprise, incredulity, and downright bafflement by financial markets, particularly as the full extent of extra borrowing required to fund the largest tax cuts in 50 years became clear," Michael Brown, head of market intelligence at Caxton's, wrote on Monday.
Monday's meltdown set the tone for the week as traditional markets remained highly volatile throughout, U.K. government bonds — known as gilts — were also tested as yields rose and the Bank of England stepped in to buy bonds with a remaining maturity of 20 years or more.
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