I f**ked up, and should have done better,” Bankman-Fried said in a lengthy Twitter thread. Sam Bankman-Fried, the crypto entrepreneur whose FTX exchange has been in a death spiral this week, tweeted a candid apology Thursday morning. Sam Bankman-Fried, founder and CEO of FTX, a cryptocurrency exchange, photographed during an interview in New York in August. That’s up from roughly 57% on Wednesday.Īs stocks settle after the trading day, levels might still change slightly. Fed funds futures are now pricing in about an 85% chance of a half-point increase, as opposed to three-quarters of a percentage point, at the central bank’s December 14 meeting. Wall Street is hoping that the data will help convince the Fed to pull back on the size and pace of its next interest rate increases, which investors fear could send the economy into a recession. It is also the smallest year-over-year increase for CPI since a 7.5% jump in January. Although that is still uncomfortably high, it is down from 8.2% in September and well below analyst estimates of 8%. The Consumer Price Index, a key inflation gauge, rose 7.7% for the year ending in October. That marked the biggest point gain for the Dow and also the biggest percentage jumps for the S&P and Nasdaq since spring 2020. The S&P 500 was up 5.5% while the Nasdaq Composite was 7.3% higher. Investors cheered the development as an indication that the Federal Reserve’s interest rate hikes may finally be cooling inflation. US stocks posted their best day since 2020 on Thursday after new government data showed that price increases eased in October. A trader works at the New York Stock Exchange on Thursday, Nov.
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