Continued global unrest may be crucial in a sell-off affecting both stocks and crypto. Several factors at play are causing uncertainty in the markets, which has been a driving factor in pullbacks since 2020. Investors historically move away from risk-on assets such as tech and crypto whenever the road forward is unclear.
Today, Bloomberg is reporting that the “cost of insuring Russia’s government debt now signals a record 99% chance of default within a year,” according to CDS data. The impact of one of the world’s most significant economic powers going into default seemingly has the world worried. In addition, Russia having to pay its dollar debt in Rubles signifies an apparent issue with its liquidity due to sanctions. Bloomberg states:
“Russia paid rubles for some of its dollar-debt obligations due this week after foreign banks declined to process payments of almost $650 million, raising speculation over a potential technical default.”
A further uncertainty comes as Mikha
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