US Economy
Bitcoin rallies above $68,000 despite Iran conflict escalation
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Bitcoin surged above $68,000 on March 2, 2026, as cryptocurrency markets rebounded amid a muted global reaction to escalating tensions in the Middle East. The rally followed strong U.S. manufacturing data, with the ISM PMI rising to 52.4 in February, signaling economic expansion. Ether and other major coins also gained, adding over $100 billion to the total market capitalization in under an hour.
US stocks rose with the Dow hitting an intraday record while the S&P 500 extended its winning streak to eight weeks. Kevin Warsh was sworn in as the new Federal Reserve chair.
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US spot Bitcoin ETFs experienced their largest weekly outflow in five months, shedding $1 billion and ending a six-week streak of inflows. The reversal comes as hotter inflation data prompted investors to reassess risk exposure.
The U.S. economy expanded at a robust 4.3% annualized rate in the third quarter of 2025, surpassing expectations and accelerating from the previous quarter's 3.8% growth. The data, delayed by a government shutdown, highlights strong consumer spending despite rising concerns over inflation and job security. President Trump attributed the surge to his tariffs and tax policies.
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Tesla's US EV market share jumped 30% to 56% in November 2025 despite a 23% sales drop to 39,800 units—the weakest quarter since 2022—while overall EV sales fell 41% post-tax credit expiration. Legacy rivals like Ford and GM face billions in losses amid a fragmented market.
The US Bureau of Labor Statistics released the August 2025 jobs report on September 5, revealing that employers added only 22,000 jobs, below expectations, while the unemployment rate rose to 4.3%. This data signaled a stalling labor market, boosting expectations for Federal Reserve interest rate cuts. Markets reacted with stocks slipping after initial highs and Treasury yields hitting five-month lows.
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Missouri and Texas players split a near-$1.8 billion Powerball jackpot. The event occurred on September 7, 2025, marking a significant lottery win.