This week’s exciting headlines center on the crashing markets for cryptocurrencies and stocks as well as the softening in the housing market and certain corners of the employment picture.

Cryptocurrencies

• Crypto is crashing. Was this inevitable? Is it desirable? The crash is giving skeptics plenty of opportunity to air their views. (Current Affairs) (Vox)
• The title of the Economist article on the subject perfectly describes the current situation: "The cryptocurrency sell-off exposed those swimming naked."
•  Forbes explains the collapse of LUNA, the cryptocurrency that was supporting stable coin Terra.

Markets

• The stock market appears to be tanking. How long will it last? (CNBC1)
• Yes, stocks and crypto appear to be crashing, but “stocks don’t go down forever.” Here is another article advising investors not to panic. (Vox)
• Does the retail industry pain mean the Fed’s policies may work? Is demand finally slowing to reduce the inflationary heat? (NPR)
• Is Elon Musk getting cold feet about Twitter? (Slate)
• While we are talking about Musk, Tesla was removed from the S&P500 ESG Index.   (Reuters)
• Is the housing market finally cooling off? Existing home sales dropped 2.4% in April to the lowest figure since the start of the pandemic, but prices increased despite the increase in interest rates. (CNBC2) But there isn’t evidence of a 2008-type crash. (The Atlantic)

Employment

• The Great Resignation may be misnamed—to a cerain extent, these people were stepping up to better jobs. (NYT-subscription may be required)
• The great worker shortage may have led to over-hiring by some corporations. Business Insider looks at the situation at two of the country’s largest employers: Amazon and Walmart.
• Corporations are feeling the pinch of higher prices and lower revenue (and stock prices) and are either laying off workers or have frozen hiring. (Yahoo Finance)

Higher Education

• Tuition discounts hit a record high of 54.5% at private colleges. (Inside Higher Ed)

About the Author

Beth Tallman

Beth Tallman entered the working world armed with an MBA in finance and thoroughly enjoyed her first career working in manufacturing and telecommunications, including a stint overseas. She took advantage of an involuntary separation to try teaching high school math, something she had always dreamed of doing. When fate stepped in once again, Beth jumped on the opportunity to combine her passion for numbers, money, and education to develop curriculum and teach personal finance at Oberlin College. Beth now spends her time writing on personal finance and financial education, conducts student workshops, and develops finance curricula and educational content. She is also the Treasurer of Ohio Jump$tart Coalition for Personal Financial Literacy.