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Alphabet's stock price fell even after Google's $32 billion acquisition deal of Wiz. It's now down 16% this year.

NEW YORK (Reuters) -U.S. stocks advanced and bitcoin rebounded on Wednesday as markets awaited the rate decision from the U.S. Federal Reserve, which could provide insight regarding the state of the economy and the central bank's next monetary policy moves. Megacap tech-related momentum stocks rebounded in a risk-on revival that put the Nasdaq out front, strengthened the dollar and put gold on the defensive. Turkey detained President Tayyip Erdogan's main political rival in what the main opposition party called "a coup against our next president," battering Turkish stocks and sending the lira plunging as much as 14.5% against the dollar before it pared those losses.

NEW YORK (Reuters) -The dollar rose across the board on Wednesday, bouncing back from multi-month lows as traders eyed the Federal Reserve's meeting outcome later in the day for clues to the path of U.S. interest rates. The buck also found some support from a brief jump in volatility after authorities detained Turkish president Tayyip Erdogan's main political rival, knocking the lira by about 12% to a record low. The buck has sold off about 6% against the euro since mid-January as investors grew concerned over the economic fallout of President Donald Trump's policies on trade and tariffs.

Bitcoin and Ethereum are assets with a global distribution. Russia extracts, refines, and sells a lot of oil. In terms of dollars, Russia's oil trade was worth $192 billion in 2024; the country's native currency is the ruble.

Brent crude futures was down 11 cents, or 0.2%, to $70.56 a barrel at 1337 GMT. Russian President Vladimir Putin agreed on Tuesday to stop attacking Ukrainian energy facilities but stopped short of endorsing a full 30-day ceasefire that Trump hoped for. "Even if a deal is struck, it will likely take some time before Russian energy exports increase in a significant way, with the short-term impact being around diversion of flows in order to attract better pricing."

Bentley on Wednesday posted its lowest annual revenue since the COVID pandemic struck in 2020 as the British luxury automaker faced a tough global market in 2024, but said it was pursuing "value over volume" with revenue per car up 10% versus 2023. Speaking to reporters, CEO Frank-Steffen Walliser said the company would no longer publicly disclose how many cars it sold. But he said Bentley's revenue per car had hit record levels as high-end customers continue to invest in bespoke features that sharply raise the price and profit margin for the automaker.

(Bloomberg) -- With Alibaba Group Holding Ltd. grabbing the spotlight of investor attention over China’s success in artificial intelligence, Tencent Holdings Ltd. is still waiting for its turn to shine.Most Read from BloombergThe Dark Prophet of Car-Clogged CitiesWashington, DC, Region Braces for ‘Devastating’ Cuts from CongressNYC Plans for Flood Protection Without Federal FundsA Malibu Model for Residents on the Fire FrontlinesAlibaba’s Hong Kong-listed shares have risen more than twice as muc

A crypto whale closed over 300 leveraged short positions on Bitcoin for a profit of $3.9 million, while also taking a new long position in a Solana meme coin.

Though ARK Invest CEO Cathie Wood is worried about recession, she trusts the long-term “investable arc” of crypto.

This wasn't quite a rout, but still, the general gloom hanging over various types of investments shaved the prices of quite a few of the less popular cryptos. Shiba Inu (CRYPTO: SHIB), whose logo is a jolly dog, wasn't in a good mood with its nearly 5% decline from 4 p.m. ET. For the most part, investors are sitting on the sidelines of many asset classes -- equities in particular -- on continued unease about how the current tariff spat between the U.S. and its major trading partners will play out.