Here's Buffett's View On Cryptos; Is Cannabis The New Bitcoin? – Investor's Business Daily

Stocks, bonds and the U.S. dollar fell Wednesday amid reports that China may be slowing down or halting purchases of U.S. sovereign bonds.

X Bloomberg News said China, the biggest buyer, sees U.S. debt as less attractive vs. other assets. The report sent bond prices, boosting the 10-year Treasury yield to 2.58% before settling at 2.55%.

PowerShares QQQ Trust (QQQ) lost 0.3%, SPDR S&P 500 (SPY) slid 0.2% and SPDR Dow Jones Industrial Average (DIA) gave up 0.1%. Emerging markets lagged with iShares MSCI Emerging Markets (EEM) down 0.7%.

Among bond funds, iShares 20+ Year Treasury Bond (TLT) fell 1% intraday, sliding further below its 200-day moving average. It tumbled 1.3% Tuesday to breach the support line. IShares 3-7 Year Treasury Bond (IEI) also extended its losses from the prior session. But TLT recovered most of its Wednesday loss and IEI reversed slightly higher.

Homebuilders, semiconductors and real estate led the downside among sector funds in the stock market today. But banks, metals miners and retail advanced. Gold ETFs rose along with gold futures, which rose 0.4% to $1,318.90 an ounce.

Bitcoin climbed 0.3% to $14,5478.68, according to CoinDesk, down slightly from an earlier high of $14,650.38. Bitcoin Investment Trust (GBTC) slumped 9% to about 1,972, for a third straight decline. It skyrocketed last year but has had a far tamer start this year with a 2% gain.

Meantime, the cryptocurrency it aims to track continues to make daily headlines. So far this year, South Korea has announced a probe into banks to curb speculation, JPMorgan CEO Jamie Dimon said he regrets comments last year in which he called Bitcoin a fraud, and billionaire investor Warren Buffett told CNBC Wednesday he has no interest in cryptocurrencies. The Berkshire Hathaway

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