Key Takeaways
- US envoy Steve Witkoff is in Moscow for talks with President Putin on a Ukraine peace plan.
- The cryptocurrency market experienced a sharp sell-off, liquidating almost $1 billion in leveraged positions.
- Bayer's shares rose after the Trump administration urged Supreme Court review of Roundup cancer lawsuits.
- Homeland Security recommended a travel ban following a shooting incident involving National Guard troops.
Deep Dive
- US envoy Steve Witkoff is in Moscow to meet President Vladimir Putin regarding a peace plan for Ukraine.
- Putin claimed Russian forces captured Pokrovsk in the Donetsk region, a claim denied by Ukraine's military.
- Ukrainian President Volodymyr Zelenskiy said the latest peace plan "looks better" after meeting French President Emmanuel Macron.
- An initial 28-point plan was rejected; current talks are based on a revised 19 points.
- Nearly $1 billion of leveraged crypto positions were liquidated during a sharp price drop on Monday.
- Bitcoin slid as much as 8% to $83,824, bringing its decline since early October to almost 30%.
- Ether dropped as much as 10% to $2,719, and is down 36% over the past seven weeks.
- Smaller, less liquid tokens are down almost 70% this year, according to a MarketVector index.
- Shares of Bayer rose 11% in Germany after the Trump administration urged the Supreme Court to review Bayer's appeal.
- The appeal challenges thousands of lawsuits blaming its Roundup weed killer for cancer.
- Bayer inherited the product through its 2018 acquisition of Monsanto.
- The company has already paid over $10 billion in settlements related to the lawsuits.
- Homeland Security Secretary Christine Om recommended a travel ban on "third-world countries."
- This recommendation follows the shooting of two National Guard troops.
- The White House paused asylum applications, stating refugees abusing the system is detrimental to the nation's character.