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On Tuesday, in the <a href="https://www.benzinga.com/news/24/10/41134015/jd-vance-tim-walz-debate-sets-a-different-tone-candidates-discuss-israel-iran-escalation-immigration">only vice-presidential debate</a> of the 2024 election cycle, Republican Sen. JD Vance (R-Ohio.) and Governor Tim Walz (D-Minn) engaged in a heated discussion over the 2020 election results.
What Happened: The debate, which was held in New York City, followed last month&#8217;s presidential debate&nbsp;where Democratic nominee Kamala Harris&nbsp;triumphed over Donald Trump.
During the debate, Walz urged Vance to recognize Trump&#8217;s <a href="https://www.benzinga.com/news/23/05/32331989/trump-says-capitol-rioters-had-love-in-their-heart-jan-6-a-beautiful-day">2020 election loss</a> and connected the Jan. 6, 2021, Capitol attack to the former President&#8217;s refusal to accept defeat.
However, Vance sidestepped the question, shifting the focus to the future and questioning if Harris had &#8220;censored&#8221; Americans during the COVID-19 pandemic.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/41080153/trump-vs-harris-this-candidate-skyrockets-in-election-forecast-poised-to-secure-victory-in-four-swin?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs Harris: This Candidate Skyrockets in Election Forecast, Poised To Secure Victory In Four Swing States</a>
Walz rebutted Vance&#8217;s defense of Trump&#8217;s attempts&nbsp;to overturn his 2020 election&nbsp;loss, asserting, &#8220;A president's words matter.&#8221;
Vance fired back, criticizing Democratic leaders for portraying Trump as a unique threat to democracy. He brought up Democratic concerns&nbsp;about Russian social media interference&nbsp;in the 2016 election.
Walz retorted, &#8220;Jan. 6 was not Facebook ads,&#8221; and once again asked Vance if&nbsp;Trump lost the 2020 election. Vance evaded a direct answer, maintaining his focus on the future. Walz labeled this as a &#8220;damning non answer.&#8221;
Why It Matters: The vice-presidential debate highlighted the stark contrast between the current election cycle and the previous one that led to President Joe Biden's exit from the race.
The vice presidential debate began with both candidates discussing Israel&#8217;s potential preemptive strike on Iran, with Walz affirming strong support for Israel's self-defense and criticizing Trump's foreign policy. 
On the other hand, Vance praised Trump for maintaining global stability and supporting Israel. The Senator also defended Trump's immigration policies, advocating for mass deportations and rebuilding the border wall.
Walz criticized Trump's failure to secure Mexico's funding for the wall and Harris&#8217; strong record on prosecuting transnational criminals.
On <a href="https://www.benzinga.com/personal-finance/24/09/40696394/inflation-jobs-and-taxes-how-trump-and-harris-economic-policies-differ">the economy</a>, Walz praised Democratic efforts in lowering costs, such as capping insulin prices, but misstated insulin&#8217;s pre-legislation cost.
Vance countered by blaming Harris for rising costs in essentials like food and housing. &#8220;She&#8217;s been the Vice President for three and a half years, she had the opportunity to enact all of these great policies.&#8221;
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Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

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JD Vance And Tim Walz Lock Horns Over Trump's 2020 Election Defeat: 'Jan. 6 Was Not Facebook Ads'

The odds of Minnesota Governor Tim Walz (D) winning the <a href="https://www.benzinga.com/news/24/10/41134015/jd-vance-tim-walz-debate-sets-a-different-tone-candidates-discuss-israel-iran-escalation-immigration">vice presidential debate</a> tumbled Tuesday night on Polymarket, as bettors seemed to rally behind Republican Sen. JD Vance (R-Ohio.)  
What happened: Walz was the punters' favorite before the start of the debate, leading with a 72% probability of a win on the cryptocurrency-based <a href="https://polymarket.com/event/who-will-win-the-vp-debate-according-to-polls?tid=1727837466904">prediction </a>market.
However, the odds fell dramatically as the debate began, plunging below 50% an hour into the face-off. As of this writing, the odds were comfortably in favor of the Republican at 69%. More than $850,000 was wagered for the outcome.&nbsp;
Polymarket, built atop Ethereum&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) Layer-2 chain, Polygon (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/matic/usd">MATIC</a>) has gained prominence as one of the world's top prediction markets for U.S. elections in recent months, though ironically, U.S. users can't access the platform due to federal regulations.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41102705/pay-taxes-with-bitcoin-ohio-senator-proposes-bill-for-crypto-tax-payments-but-theres-a-cat">Pay Taxes With Bitcoin? Ohio Senator Proposes Bill For Crypto Tax Payments, But There&#8217;s A Catch</a>
Why It Matters: The vice presidential debate saw the two leaders clash on an array of topics including economy, geopolitical tensions, immigration, and more.&nbsp;
The 90-minute-long debate followed the presidential debate last month where Democratic nominee Kamala Harris was <a href="https://www.benzinga.com/news/24/09/40808499/trump-vs-harris-debates-results-are-in-flash-poll-shows-resounding-majority-pick-vice-president-as-w">declared the winner</a> against Republican challenger Donald Trump.
As of this writing, presidency odds on Polymarket were little impacted due to the debate, with Harris maintaining a slender lead over Trump.&nbsp;&nbsp;&nbsp;
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Odds Of Tim Walz Winning The VP Debate Drop On Polymarket As Bettors Favor JD Vance — Harris Maintains Lead Over Trump

Investors faced a turbulent day in the stock market, reacting to a series of events that could potentially impact the values of stocks and sectors in the coming weeks. The S&amp;P 500 and the Nasdaq indices were affected by geopolitical tensions in the Middle East, the aftermath of Hurricane Helene, and ongoing port strikes. 
The major indices closed the day lower, with the Dow Jones Industrial Average slipping 0.4% to 42,156.97 and the S&amp;P 500 falling 0.9% to 5,708.75. The Nasdaq finished Tuesday down 1.5% at 17,910.36.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) closed down 1.38% at $258.02, with an intraday high of $263.98 and low of $248.53. Tesla&#8217;s recent 24% monthly surge sets the stage for a pivotal October, with analysts <a href="https://www.benzinga.com/trading-ideas/technicals/24/10/41116889/tesla-stock-speeds-ahead-of-mag7-peers-can-octobers-robotaxi-reveal-keep-the-momentum">closely watching</a> the upcoming Robotaxi event on Oct. 10, anticipated to bring significant updates on full self-driving and autonomous vehicles. Key announcements on operating costs, scaling, and potential new models could shape Tesla&#8217;s next chapter.
Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) ended the day down 0.64% at $185.13. The tech giant&#8217;s stock was affected by a <a href="https://www.benzinga.com/news/24/10/41111978/dockworkers-strike-will-it-impact-your-holiday-shopping">dockworkers strike</a> that could potentially impact holiday shopping and cost the economy $540 million daily. Tech giants are bracing for potential disruptions that may affect East Coast ports.
See Also: <a href="https://www.benzinga.com/markets/equities/24/09/41084992/nvidia-stock-could-touch-800-by-2030-bgg-executive-predicts-550-upside-driven-by-ai-revolution-a?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia Stock Could Touch $800 By 2030, BGG Executive Predicts 550% Upside Driven By AI Revolution And Web3 Transition</a>
Nike Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) closed up 0.83% at $89.13. The company&#8217;s shares rose despite <a href="https://www.benzinga.com/news/earnings/24/10/41129610/nike-q1-earnings-revenue-miss-eps-beat-teams-energized-amid-ceo-transition-a-comeback-at-this-scale">missing revenue estimates</a> in its first-quarter financial results.
Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) ended the day up 0.64% at $81.27. The retail giant&#8217;s stock was <a href="https://www.benzinga.com/insights/news/24/10/41121254/walmart-president-and-ceo-trades-companys-stock">influenced</a> by the company&#8217;s CEO Douglas McMillon selling 29,124 shares of Walmart, as revealed in a recent SEC filing.
Alibaba Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) closed up 6.24% at $112.74. The company&#8217;s shares surged amidst <a href="https://www.benzinga.com/news/24/10/41120957/alibabas-sun-art-faces-uncertainty-as-trading-suspension-fuels-divestment-rumors-report">speculation about Alibaba&#8217;s divestment</a> of stake in Sun Art Retail Group.
Image via Shutterstock
Prepare for the day&#8217;s trading <a href="Premarket Movers &amp; News">with top premarket movers and news</a> by Benzinga.
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

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Tesla, Amazon, Nike, Walmart, Alibaba: Why These 5 Stocks Are On Investors' Radars Today

Editor&#8217;s Note: This story has been updated to include a response from a Bitwise spokesperson.
In a groundbreaking move, cryptocurrency index fund manager Bitwise Asset Management filed for an XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) exchange-traded fund (ETF), a first for the U.S. market.
What Happened: Bitwise submitted the ETF filing on Monday to Delaware&#8217;s Department of State&#8217;s Division of Corporations. The filing was made under the entity name Bitwise XRP ETF, with CSC Delaware Trust Company listed as the registered agent.
This is typically the first step toward filing and listing an ETF, with similar notice seen previously for BlackRock&#8217;s iShares Bitcoin Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>) and iShares Ethereum Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETHA#NASDAQ">ETHA</a>).
A Bitwise spokesperson confirmed to Benzinga that the filing was legitimate but declined to provide additional information.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41120425/arthur-hayes-cites-money-printing-as-key-factor-for-bitcoin-becoming-the-best-performing-a">Arthur Hayes Cites &#8216;Money Printing&#8217; As Key Factor For Bitcoin Becoming The &#8216;Best Performing Asset&#8217; In History</a>
Earlier this year, the SEC approved several spot Bitcoin ETFs from firms like BlackRock, Grayscale, and Fidelity, as well as eight Ethereum ETFs. Grayscale has <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40838951/grayscale-revives-xrp-trust-after-3-year-hiatus">also launched an XRP &#8220;closed-end&#8221; fund</a> for accredited investors.
Why It Matters: The development comes even as Ripple Labs, the blockchain company that uses XRP for its operations, is <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40240559/xrp-outshines-bitcoin-ethereum-to-become-biggest-daily-gainer-after-judge-imposes-125m-pen">locked in a legal battle with the SEC</a> over the token&#8217;s sale. 
Ripple secured a notable victory in its protracted legal battle with the SEC last year, with a U.S. District Judge ruling that the sale of XRP on public exchanges does not constitute unregistered securities offerings. The deadline for the SEC to appeal the ruling is set for&nbsp;Oct. 7
Price Action: At the time of writing, XRP was trading at $0.603, down 2.67% in the last 24 hours, according to&nbsp;<a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Photo Courtesy: Michaela Jilkova On Shutterstock.com
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After Bitcoin, Ethereum An XRP ETF? Bitwise Registers Filing In Delaware Amid Rippe Vs SEC Legal Tussle (UPDATED)

<a href="https://www.youtube.com/watch?v=VAGZGQg31hs" title="https://www.youtube.com/watch?v=VAGZGQg31hs">https://www.youtube.com/watch?v=VAGZGQg31hs</a>

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Live At CBS Vice Presidential Debate Senator Vance Says We Want To Promote Choice And How We Deliver Family Care And How We Promote Child Care

Live At CBS Vice Presidential Debate Governor Walz Says A Federal Program Of Paid Family Medical Leave Will Enhance Our Workforce And Our Families

On Tuesday, Republican Sen. JD Vance (R-Ohio.) and Minnesota Governor Tim Walz (D) faced off in the <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41107455/walz-vs-vance-vp-debate-betting-odds-what-candidate-is-favored-plus-how-to-watch-likely-to">only vice-presidential debate</a> of the 2024 election cycle, in New York City.
The 90-minute debate was moderated by CBS News anchors Norah O&#8217;Donnell and Margaret Brennan.
This debate followed the presidential debate last month where Democratic nominee Kamala Harris was <a href="https://www.benzinga.com/news/24/09/40808499/trump-vs-harris-debates-results-are-in-flash-poll-shows-resounding-majority-pick-vice-president-as-w">declared the winner</a> against Donald Trump — a stark contrast to the previous matchup that led to President Joe Biden&#8217;s exit from the race.
What Happened: The debate jumped right into the ongoing Middle East crisis. The candidates were asked if they would support a pre-emptive strike on Iran by Israel. The backdrop of the debate was set on Tuesday when Iran <a href="https://www.benzinga.com/news/global/24/10/41126038/iran-attacks-israel-with-missiles-middle-east-tensions-escalates-s-p-500-stocks-bitcoin-fall-as-oil">fired nearly 200 missiles</a> at Israel.
The Two Candidates Shook Hands
The debate began shortly after 9 p.m., with Walz stepping out first, followed by Vance. After a handshake, Vance took his position at the lectern, and both candidates started jotting down notes on the provided pen and paper.
Middle-East Crisis
The Minnesota Governor responded to the first question about supporting a potential Israeli preemptive strike on Iran by reaffirming his strong backing for Israel.
He spoke about the importance of Israel&#8217;s right to self-defense following the Hamas attack on Oct. 7.
He then quickly shifted to criticize Trump&#8217;s foreign policy, citing concerns from the former President&#8217;s own national security advisers who warned of the dangers of him being in charge.
"When our allies see Donald Trump turn towards Vladimir Putin, turn towards North Korea, when we start to see that type of fickleness about holding the coalitions together — we will stay committed," Walz said.
Vance started off giving an introduction of himself, speaking about having a blue-collar upbringing.
He then said that Trump actually delivered stability to the world by establishing effective deterrence, people were afraid of stepping out of the line.
"It is up to Israel what they think they need to do to keep their country safe and we should support our allies wherever they are when they are fighting the bad guys," he said in response to the question.
Hurricane Helene And Climate Change
When asked about the Trump administration&#8217;s role in addressing climate change, Vance said that he and the former president prioritize &#8220;clean air and clean water.&#8221;
"Donald Trump and I support clean air and clean water," he said, and then added, "One of the things that I have noticed some of our Democratic friends talking a lot about is a concern about carbon emissions. This idea that carbon emissions drive all the climate change."
"If you believe that what would you want to do: the answer is you wanna restore as much as American manufacturing as possible and you'd want to produce as much energy as possible in the United States of America because we are the cleanest economy in the entire world."
He said Kamala Harris' policies have led to more energy production in China, more manufacturing overseas, and more doing business in some of the dirtiest parts of the world.
Walz targeted Trump saying that the former President once called climate change a hoax and joked that these things would make more beachfront properties to invest in.
The Minnesota Governor said that the current administration has been taking steps to mitigate the effects of climate change.
"To call it a hoax and to take the oil company executives to Mar-a-Lago, say, give me money from my campaign and I&#8217;ll let you do whatever you want, we can be smarter about that and an all-above energy policy is exactly what she&#8217;s doing, creating those jobs right here," he said.
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Immigration And Fact Check
Vance was asked about the Trump-Vance campaign's plan to carry out the largest deportation in the history of the U.S.
"She promised to undo all of Trump's immigration policies," said Vance about Harris and then touched on fentanyl and opiod crisis affecting the U.S.
He stressed on bring back Trump's immigration policies and rebuilding the wall.
"You make it harder for illegal immigrants to undercut the wages of American workers," said Vance on the impact of mass migration in to the country.
"The real family separation policy is unfortunately Kamala Harris' wide-open southern border," said Vance.
Walz responded by saying that opioid crisis was an issue but chose not to respond to Vance's assertion that children were being used as drug mules.
"Most of us want to solve this," said Walz. He singled out Harris' record in California for prosecuting transnational criminals.
"Donald Trump said, ‘No,'" said Walz. What would he talk about if legislation to tackle to immigration issue was passed.&nbsp;
He touched on the failure of Trump to get the wall funded by Mexico, something that Trump had promised to do.
"We already have massive child separation," said Vance on the question of separating children from parents. "We have a record of illegal crossings," said Vance. He referred to the Vice President as the "Border Czar," a term often used by his campaign.
"We fix this issue with a bill that is necessary," said Walz in response to overwhelming support for mass deportations in the U.S. He accused his political opponents of vilification of the issue because they did not want to address it.
"Gross majority" of what needs to be done is just empowering law enforcement, said Vance on whether the immigration issue needed legislation.
Vance mentioned Springfield, Ohio, a city in his home state that recently became a focal point of immigration discussions. Trump <a href="https://www.benzinga.com/news/24/09/40866950/donald-trumps-pet-eating-claims-shaking-up-springfield-ohio">falsely claimed</a> last month that Haitian immigrants in the town were eating pet animals.
Vance challenged the CBS host's fact-checking that a large number of Haitian immigrants in the city had legal status. However, his mike was cut while he was explaining the legal nitty-gritty around the status of these immigrants.
Economy And Common Sense
On the economy, Walz commended the Democratic administration for efforts to lower the cost of essentials, such as prescription drugs.
He highlighted the law passed two years ago, capping insulin prices at $35 per month for millions of Medicare recipients.
However, the Minnesota Governor overstated the pre-legislation cost, incorrectly stating that insulin had cost Americans &#8220;$800&#8221; before the law took effect.
CBS cited the Wharton School's analysis of the Trump plan and said it would increase the nation's debt by $5.8 trillion.
In response, Vance said that you will hear a lot of things from Walz about what Harris would do, and it sounds all good but you won't hear is that she has already done it.
"She's been the Vice President for three and a half years, she had the opportunity to enact all of these great policies and what she has actually done instead is drive the cost of food higher by 25%, drive the cost of housing higher by about 60%."
"If Kamala Harris has such great plans for how to address middle-class problems, then she ought to do them now, not when asking for a promotion, but in the job the American people gave her three and a half years ago."
"Now, Donald Trump's economic plan is not just a plan but it's also a record. A lot of those same economics that attacked Donald Trump's plan and they have Phds but they don't have common sense and they don't have wisdom," said Vance.
The Minnesota governor rebuffed Vance and Trump's campaign saying that they keep on targeting experts including economists, science, and national security folks.
&#8220;If you&#8217;re going to be president, you don&#8217;t have all the answers. Donald Trump believes he does,&#8221; he said. &#8220;My pro-tip is this: if you need heart surgery, listen to the people at the Mayo Clinic in Rochester, Minnesota, not Donald Trump.&#8221;
Walz then addressed teachers, nurses, truck drivers, and other Americans, questioning the fairness of their annual tax payments while Trump managed to avoid paying income taxes for 10 out of 15 years.
Photo: J.D. Vance and Tim Walz, via Shutterstock
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Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

JD Vance, Tim Walz Debate Sets A Different Tone, Candidates Discuss Israel-Iran Escalation, Immigration And Economic Agendas: 'If Kamala Harris Has Such Great Plans …'

Ispire Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISPR#NASDAQ">ISPR</a>), a leader in vaping technology, is set to unveil its groundbreaking I-80 vapor device filling machine at the <a href="https://www.benzinga.com/events/cannabis-conference/">Benzinga Cannabis Capital Conference</a> in Chicago on October 8-9. The I-80 promises to revolutionize cannabis production, delivering efficiency and cost savings that could transform the industry&#8217;s landscape.
"The I-80 isn't just a machine; it's a game-changing solution to the capacity challenges that have hindered cannabis operators for years,&#8221; said Michael Wang, co-CEO of Ispire. &#8220;We're not just improving productivity – we're leading a paradigm shift in cannabis production efficiency." Wang also positioned the I-80 as the future of production efficiency in the cannabis industry.
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<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can&#8217;t afford to miss out if you're serious about the business.</li>
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<h3 class="wp-block-heading">Unmatched Speed And Efficiency</h3>
Capable of filling and sealing 4,000 <a href="https://www.benzinga.com/general/biotech/24/08/40341814/tony-starks-choice-vape-synergy-innovations-strategic-move-to-restore-brands-identity-lead-market">vapor devices</a> per hour, the I-80 is 2x faster than current automated systems and offers a 10x improvement in efficiency over manual production methods.&nbsp;
This significant boost in productivity addresses long-standing capacity challenges faced by cannabis operators, especially multi-state operators (MSOs) as well as single-state operators (SSOs).
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="902" height="1024" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/01190611/unnamed-6-902x1024.png" alt="" class="wp-image-575631" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/01190611/unnamed-6-902x1024.png 902w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/01190611/unnamed-6-264x300.png 264w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/01190611/unnamed-6-768x872.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/01190611/unnamed-6.png 951w" sizes="(max-width: 902px) 100vw, 902px" /><figcaption class="wp-element-caption">I-80 by Ispire &#8211; Courtesy Photo. </figcaption></figure>
<h3 class="wp-block-heading">Cost Savings And Workflow Optimization</h3>
The I-80 is designed not just for speed but for cost savings. Cannabis companies can expect to save $1,000 for every 10,000 units produced, thanks to the machine&#8217;s integrated self-sealing technology, which eliminates the need for separate capping. 
This feature alone improves workflow efficiency by 1,000% over manual methods and 100% over other automated systems, giving operators a competitive edge.
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Is Manual Labor Dead? 4,000 Vape Devices In One Hour: The Machine That Boosts Efficiency By 1,000%

Live At CBS Vice Presidential Debate Governor Walz Says I Think There's A Capacity To Find Solutions To Protect Second Amendment And Protect Our Children

Leading cryptocurrencies plummeted Tuesday as Iran's <a href="https://www.benzinga.com/news/global/24/10/41126038/iran-attacks-israel-with-missiles-middle-east-tensions-escalates-s-p-500-stocks-bitcoin-fall-as-oil">missile barrage toward Israel</a> sparked fears of a full-blown regional war in the Middle East.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:30 p.m. EDT)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-3.48%</td>
<td>$61,118.92</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-5.66%</td>
<td>$2,464.05</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-6.29%</td>
<td>$0.1077</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin plunged to a nearly two-week low of $60,370 as Iran launched a missile attack against Israel. The leading cryptocurrency recovered to $61,000 when the attack ended.
Ethereum witnessed a steeper drop, crashing to levels not seen since Aug. 19.
Total cryptocurrency liquidations exceeded $521 million in the last 24 hours, the highest since the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40181335/global-stock-market-meltdown-has-more-to-do-with-macro-funds-stuck-in-wrong-way-aro">Black Monday meltdown</a> in August. Nearly $450 million in bullish bets were erased.&nbsp;
Bitcoin's Open Interest dropped 4.79% in the last 24 hours, while Ethereum saw a 5.6% decline in funds locked in its futures market.
The market sentiment fell from plunged into the "Fear" zone, according to the popular Cryptocurrency Fear &amp; Greed Index, implying significant FUD and selling pressure.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:30 p.m. EDT)</td>
</tr>
<tr>
<td>FTX Token (FTT)</td>
<td>+12.00%</td>
<td>$2.10</td>
</tr>
<tr>
<td>EigenLayer (EIGEN)</td>
<td>+11.24%</td>
<td>$4.13</td>
</tr>
<tr>
<td>Wormhole (W)</td>
<td>+5.32%</td>
<td>$0.3119</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency stood at $2.14 trillion in the last 24 hours, following a contraction of&nbsp; 4.16% in the last 24 hours.
The stock market felt the pinch as well, dampening the high enthusiasm coming off last month. The Dow Jones Industrial Average retreated 173.18 points, or 0.41%, to end at 42,156.97. The S&amp;P 500 slipped 0.93% to close at 5,708.75, while the tech-heavy Nasdaq Composite ended 1.53% lower at 17,910.36.
War fears caused a spike in crude oil prices, with the West Texas Intermediate (WTI) rising 1.66% to $70.86 a barrel. Additionally, spot gold rose past $2,660 per ounce on safe-haven demand, but retreated later after the missile attack ended.&nbsp;
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Legendary trader Peter Brandt stated that Bitcoin's recent rally was didn't defy its 7-month trend of lower highs and lower lows.
"Only a close above 71,000 confirmed by a new ATH will indicate that the trend from the Nov 2022 low remains in force," Brandt added.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The recent rally in Bitcoin did NOT disturb the 7-month sequence of lower highs and lower lows. <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> Only a close above 71,000 confirmed by a new ATH will indicate that the trend from the Nov 2022 low remains in force <a href="https://t.co/lFO9A20VPD">pic.twitter.com/lFO9A20VPD</a>
&mdash; Peter Brandt (@PeterLBrandt) <a href="https://twitter.com/PeterLBrandt/status/1841270939901911145?ref_src=twsrc%5Etfw">October 2, 2024</a></blockquote>
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Widely-followed cryptocurrency commentator, MartyParty blamed big whales for the intense sell-offs, deeming it "pure manipulation" to eliminate bullish longs using war narratives. 
"Whales sell large amounts of crypto, the red candles cause panic, the price drops, paper hands panic sell,  same whales buy back and accumulate more tokens. That&#8217;s the game," he explained, urging his followers not to fall for this.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I analyze Bitcoin flows, majority of the selling today was from known market maker and exchange addresses aka Whales. This is pure manipulation to eliminate leverage longs using the &quot;war narratives&quot; to distribute according to the <a href="https://twitter.com/hashtag/Wykoff?src=hash&amp;ref_src=twsrc%5Etfw">#Wykoff</a> reaccumulation strategy. Whales sell…
&mdash; MartyParty (@martypartymusic) <a href="https://twitter.com/martypartymusic/status/1841221565590958567?ref_src=twsrc%5Etfw">October 1, 2024</a></blockquote>
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Photo by CMP_NZ on Shutterstock
Read Next:    
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41116750/bitcoin-miner-marathon-digital-inexplicably-expensive-while-riot-platforms-cheap-says-anal">Bitcoin Miner Marathon Digital &#8216;Inexplicably Expensive,&#8217; While Riot Platforms &#8216;Cheap,&#8217; Says Analyst</a></li>
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Movers

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$BTC

$DOGE

Bitcoin, Ethereum, Dogecoin Crack On Israel-Iran War Fears: Legendary Trader Flags Significance Of King Crypto's Close Above $71K

Live At CBS Vice Presidential Debate Senator Vance Says Pharmaceuticals That We Put In The Bodies Of Our Children Are Manufactured By Nations That Hate Us; This Has To Stop

<a href="https://www.youtube.com/watch?v=VAGZGQg31hs" title="https://www.youtube.com/watch?v=VAGZGQg31hs">https://www.youtube.com/watch?v=VAGZGQg31hs</a>
<a href="https://www.youtube.com/watch?v=VAGZGQg31hs" title="https://www.youtube.com/watch?v=VAGZGQg31hs">https://www.youtube.com/watch?v=VAGZGQg31hs</a>

Live At CBS Vice Presidential Debate Senator Vance Says You Got To Invest In More Energy Production; We Haven't Built A Nuclear Facility, One In 40 Years; We Got To Invest More In It

Former President Donald Trump has reportedly withdrawn from a scheduled appearance on CBS &#8220;60 Minutes.&#8221;
What Happened: Both Trump and Vice President Kamala Harris had initially agreed to feature in the show&#8217;s election special, set to air next Monday, as reported by <a href="https://thehill.com/homenews/media/4910610-donald-trump-pulls-out-60-minutes-interview-cbs-news/">The Hill</a>. Trump was to be interviewed by Scott Pelley, while Harris was to converse with Bill Whitaker. However, the Trump campaign has now chosen to withdraw from the event.
Despite Trump&#8217;s withdrawal, CBS News confirmed that the election special will continue as planned, featuring the interview with Harris. The network also reiterated its standing invitation to Trump for an interview on &#8220;60 Minutes&#8221;.
Trump was the first to accept the interview request from &#8220;60 Minutes&#8221;, under the assumption that both White House candidates would receive equal airtime, a source told the publication. However, a spokesperson for Trump informed the show on Tuesday that the ex-president would not be participating.
The Trump campaign disputed CBS News&#8217; claims, stating that no interview was definitively scheduled. Steven Cheung, the Trump campaign's communications director, accused the show of begging for an interview and insisted that the discussions were preliminary and nothing was confirmed.
Cheung said that CBS insisted on &#8220;live fact checking&#8221; which he said was &#8220;unprecedented.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Fake News. 60 Minutes begged for an interview, even after they were caught lying about Hunter Biden's laptop back in 2020. There were initial discussions, but nothing was ever scheduled or locked in. They also insisted on doing live fact checking, which is unprecedented. <a href="https://t.co/l7xIacc1JK">https://t.co/l7xIacc1JK</a>
&mdash; Steven Cheung (@TheStevenCheung) <a href="https://twitter.com/TheStevenCheung/status/1841242913302327506?ref_src=twsrc%5Etfw">October 1, 2024</a></blockquote>
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</figure>
See Also: <a href="https://www.benzinga.com/news/24/09/41080153/trump-vs-harris-this-candidate-skyrockets-in-election-forecast-poised-to-secure-victory-in-four-swin?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs Harris: This Candidate Skyrockets in Election Forecast, Poised To Secure Victory In Four Swing States</a>
Why It Matters: This withdrawal follows a series of debates and scheduled appearances leading up to the 2024 presidential election. Both Trump and Harris were <a href="https://www.benzinga.com/general/entertainment/24/09/41011819/trump-harris-could-appear-in-back-to-back-60-minutes-interviews-could-paramount-stock-be-a-">expected to appear</a> in back-to-back &#8220;60 Minutes&#8221; interviews. This was seen as a potential media win for CBS and its parent company, Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>).
However, Trump&#8217;s reluctance to participate in further debates has been noted. As mentioned in a <a href="https://www.benzinga.com/news/24/09/41037884/its-trump-not-harris-says-fox-anchor-bret-baier-on-delayed-second-debate">Benzinga article</a> in September, Fox News anchor Bret Baier attributed the delay in a second debate to Trump, not Harris.
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

PARA

Trump Backs Out Of Planned '60 Minutes' Interview, Ex-President's Campaign Says CBS Asked For Unprecedented Live Fact Checking

Israeli Prime Minister Benjamin Netanyahu promised retaliation against Iran for <a href="https://www.benzinga.com/news/global/24/10/41126038/iran-attacks-israel-with-missiles-middle-east-tensions-escalates-s-p-500-stocks-bitcoin-fall-as-oil">firing over 180 missiles</a> into Israel on Tuesday. Meanwhile, Iran warned of &#8220;vast destruction&#8221; if Israel retaliates, heightening fears of a broader conflict.
What Happened: Despite the missile onslaught, no injuries were reported in Israel. However, a casualty was reported in the occupied West Bank. Iran&#8217;s foreign ministry maintained that its operation was defensive, targeting only Israeli military and security facilities.
Israel&#8217;s U.N. ambassador stated that the country will decide when and how to respond to Iran&#8217;s launch of nearly 200 ballistic missiles, emphasizing that the retaliation &#8220;will be noticed&#8221; and &#8220;painful.&#8221; He warned Iran against testing Israel&#8217;s capabilities, while stressing that Israel does not seek war but cannot ignore such attacks on its civilians, <a href="https://apnews.com/live/israel-lebanon-ground-operation-updates">reported</a> the Associated Press.
Iran&#8217;s armed forces stated that any direct intervention by Israel&#8217;s supporters against Tehran would trigger a &#8216;strong attack&#8217; from Iran on their &#8216;bases and interests&#8217; in the region, reported Reuters.
Iran&#8217;s military chief, Gen. Mohammad Bagheri, warned that Iran would strike all of Israel&#8217;s infrastructure if it takes action against Iran. He stated that the Revolutionary Guard is ready to repeat missile attacks with &#8220;multiplied intensity&#8221; and emphasized that while Iran avoided targeting civilians, it remains a feasible option, according to AP.
See Also: <a href="https://www.benzinga.com/news/24/09/41080855/kim-jong-uns-sister-says-us-making-incredible-mistake-by-giving-8b-in-military-aid-to-ukraine-should?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Kim Jong Un&#8217;s Sister Says US Making &#8216;Incredible Mistake&#8217; By Giving $8B In Military Aid To Ukraine: &#8216;Should Not&#8230;Underestimate Russia&#8217;s Serious Warning&#8217;</a>
Why It Matters: The missile attack from Iran follows a period of escalating tensions in the Middle East. Prior to the attack, the U.S. had increased its military presence in the region due to the rising tensions. 
The U.S. had <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/10/41120592/iran-set-to-launch-ballistic-missile-attack-against-israel-report">also warned</a> that an attack in the region was imminent. The attack has had a significant impact on global markets, with investors reacting to the potential implications of the escalating conflict. 
Gold and oil prices <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/10/41129967/market-sells-off-over-irans-attack-on-israel-port-strikes-hurricane-helene-national-se">surged following the attack</a>, with the United States Oil Fund up 3% and the SPDR Gold Trust rising 1%. Major market indexes fell, including the SPDR S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), down 0.9%, and the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), down 1.4%. Technology stocks were hit the hardest, while defense and oil stocks saw gains. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) also dropped 2%.
Price Action: At the time of writing, SPY traded 0.15% lower in the after-hours session at $567.74 and QQQ was lower by almost 0.3% at $480.01.
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<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Netanyahu Promises Retaliation For Missile Attack On Israel, Iran Responds By Promising 'Vast Destruction'

Top Democrats from influential House committees are urging the Drug Enforcement Administration (DEA) to expedite the process of <a href="https://www.benzinga.com/topic/cannabis-rescheduling">rescheduling cannabis.</a>
In a letter sent to Attorney General Merrick Garland and DEA Administrator Anne Milgram, Representatives Jerrold Nadler (D-NY) and Frank Pallone (D-NJ), ranking members of the Judiciary and Energy &amp; Commerce Committees respectively, stressed the need for quick action following a scientific review by the Biden administration.
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/09/40938172/no-turning-back-now-cannabis-rescheduling-gains-momentum-expert-offers-timeline">&#8216;No Turning Back Now&#8217;: Cannabis Rescheduling Gains Momentum, Expert Offers Timeline</a>
According to <a href="https://www.marijuanamoment.net/top-congressional-democrats-push-dea-to-swiftly-reschedule-marijuana-and-continue-to-assess-full-legalization/">Marijuana Moment</a>, the lawmakers argue that cannabis has &#8220;less potential for abuse than other drugs&#8221; and serves an &#8220;accepted medical use in treatment.&#8221;
Their comments align with recommendations from the Department of Health and Human Services (HHS) and the Department of Justice, which have called for the reclassification of cannabis from Schedule I to Schedule III under the Controlled Substances Act (CSA).
&#8220;We value the Department of Justice's steadfast commitment to prevent the misuse and diversion of controlled substances that pose a threat to public health," Nadler and Pallone wrote.
The lawmakers applauded the Biden administration for initiating the review and urged the DEA to &#8220;swiftly complete this process and transfer marijuana to schedule III.&#8221;
<h3 class="wp-block-heading">Push For Full Descheduling</h3>
While the immediate focus is on rescheduling to Schedule III, which would loosen some federal restrictions on cannabis, the legislators also urged federal agencies to explore further reform. 
They said that &#8220;continuing to assess whether schedule IV, schedule V, or descheduling may be appropriate&#8221; could be the next step in aligning cannabis policy with evolving scientific and medical understanding. 
Descheduling, which would remove cannabis from the CSA entirely, remains a key objective for many advocates and lawmakers, including Nadler, who has previously sponsored the MORE Act &#8211; a bill that would result in full legalization.
<h3 class="wp-block-heading">Election-Year Focal Point</h3>
The timing of the lawmakers' push comes as cannabis policy increasingly takes center stage in <a href="https://www.benzinga.com/markets/cannabis/24/09/40785015/harris-campaign-accuses-trump-of-blatant-pandering-and-lying-about-his-cannabis-support-announce">U.S. election politics.</a> Both major parties are positioning themselves on the issue as the 2024 presidential election approaches. 
However, final action on the rescheduling is not expected until after November, with the DEA scheduling an administrative hearing on the matter for December 2. This hearing will allow for further input from experts and stakeholders before the agency potentially finalizes its decision.
Read Next: 
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Regulations

House Democrats Urge DEA To Speed Up Cannabis Rescheduling

ADTX

Trading Halt: Halted at 7:50:00 p.m. ET - Trading Halt: Halt News Pending

AREB

SOBR

Vice President&nbsp;Kamala Harris&nbsp;continues to lead former President&nbsp;Donald Trump&nbsp;in a head-to-head poll of likely voters with less than 50 days to go until the<a href="https://www.benzinga.com/topic/2024-election" target="_blank" rel="noreferrer noopener">&nbsp;2024 presidential election.</a>
What Happened: Harris maintains a five-point lead over Trump and continues to<a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40993290/trump-vs-harris-2024-election-betting-odds-show-vice-president-maintains-lead-as-race-near"> lead betting odds</a> and prediction markets against the former president with Tuesday's vice president debate a potential catalyst for the 2024 election.
A new Morning Consult poll of likely voters shows Harris' lead at five points for the week. The new <a href="https://pro.morningconsult.com/trackers/2024-presidential-election-polling?utm_source=briefing&amp;utm_medium=email&amp;utm_campaign=washington_am&amp;utm_content=100124">poll </a>shows the following results from voters, with the results from the Sept. 24 poll in parentheses:
<ul>
<li>Kamala Harris: 51% (50%)</li>
<li>Donald Trump: 46% (45%)</li>
<li>Someone Else: 2% (2%)</li>
<li>Don't Know: 2% (3%)</li>
</ul>
The poll found that 94% of Democrats backed Harris as their top pick, in line with last week&#8217;s poll. The poll also found 92% of Republicans backed Trump as their top pick, up one percentage point from last week's poll.
Independent voters selected the following as their head-to-head preference, with the results from the <a href="https://www.benzinga.com/general/politics/24/09/41016272/harris-vs-trump-2024-election-poll-shows-good-bad-news-for-each-candidate">Sept. 24 poll</a> in parentheses:
<ul>
<li>Kamala Harris:&nbsp;45% (46%)</li>
<li>Donald Trump: 44% (42%)</li>
<li>Someone Else: 5% (6%)</li>
<li>Don&#8217;t Know:&nbsp;5% (6%)</li>
</ul>
The vice president also has the edge in the 18-34 age voters demographic, leading 53% to 43%. The 10-point lead is down from last week's 12-point lead and a lead of 15-points two weeks ago. &nbsp;
Among Black voters, Harris leads by 77% to 19%.
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Why It's Important: Trump showed gains among Black voters, Independent voters and Republican voters on the week, which is potentially bad news for Harris.
The good news for Harris and running mate Tim Walz is that the favorable ratings of the Democratic Party candidates continue to rank ahead of their counterparts.
The latest poll shows Harris with a favorable rating of 52%, down one point from last week's poll and a record high. With an unfavorable rating of 46%, Harris' net favorability is +6 pints, down from last week's record +9 points.
For comparison, Trump has a 44% favorable rating and 54% unfavorable rating, compared to 45% and 53%, respectively, in last week's poll. Trump's net favorability is -10 points, down from last week's -9 points. Trump's net favorability has often been negative during the election cycle.
When it comes to running mates, Harris' vice-presidential pick Minnesota Gov. Tim Walz ranks significantly ahead of Trump's vice-presidential pick Ohio Sen. J.D. Vance in net favorability. Walz has a net favorability of +6 while Vance has a net favorability of -9. The net favorability ratings were +9 and -10 respectively in last week's poll
Walz has a favorable rating of 45% and unfavorable rating of 39%. Vance has a favorable rating of 39% and an unfavorable rating of 48%.
Walz and Vance will<a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41107455/walz-vs-vance-vp-debate-betting-odds-what-candidate-is-favored-plus-how-to-watch-likely-to"> face off Tuesday night </a>in a vice president debate that airs at 9 p.m. ET on CBS, a unit of Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARAA#NASDAQ">PARAA</a>).
CBS News begins coverage of the debate at 8 p.m. ET on CBS and affiliate networks. The debate and coverage can also be streamed on Paramount+, CBSNews.com and YouTube. Paramount will allow simulcasting by other networks.
The debate will be 90 minutes in length with two planned four-minute commercial breaks. The candidates are not allowed to interact with their campaign teams during the commercial breaks.
Prediction market Polymarket lists a 73% chance that Walz is the winner of the debate based on YouGov surveys, which could strengthen Harris' lead in coming election polls.
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PARAA

Harris Vs. Trump: Vice President Leads Former President By 5 Points, Walz Favorability Rating Tops Vance Ahead Of VP Debate

Mark Spitznagel, co-founder of Universa Investments, believes the stock market is in a "Goldilocks phase" following the <a href="https://www.benzinga.com/opinion/24/10/41126981/chinas-stimulus-creates-huge-bullish-option-trades">Federal Reserve's rate cuts and China's stimulus measures.</a> After a crash last month, the market surged to new highs, but Spitznagel warns this euphoria won't last in an<a href="https://www.bloomberg.com/news/articles/2024-09-26/stock-market-s-goldilocks-zone-is-in-danger-of-an-abrupt-end?sref=TBDibEcD"> interview with Bloomberg. </a>He predicts a looming recession and believes the current rally is only temporary.
Spitznagel, known for his focus on "tail-risk" hedging, which protects against extreme, unexpected market events, says the biggest market bubble in history is about to burst. He foresees stagflation in the future, where the Fed will have to act, but it won't be enough to save the economy. Spitznagel has had success hedging through large downturns in the market, utilizing out-of-the-money put options as a way to &#8220;buy insurance&#8221; against market routs. Buying puts on the overall market through the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) or similar broad-exposure ETFs could be a way to protect against market volatility. Read Also: <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/10/41129967/market-sells-off-over-irans-attack-on-israel-port-strikes-hurricane-helene-national-se">Market Sells Off Over Iran&#8217;s Attack On Israel, Port Strikes, Hurricane Helene: National Security Adviser Calls Attack &#8216;Defeated And Ineffective&#8217;</a>
Spitznagel said that while the market might continue to soar in the short term, it will soon exit the Goldilocks zone, potentially by the end of the year. With the recent &#8220;uninversion&#8221; of the yield curve, Spitznagel feels the market is now in "black swan territory." What Is A Black Swan Event: A black swan event is an unpredictable event that leads to market volatility. The COVID-19 market crash is a recent example of a black swan event. He also criticized traditional investment strategies like diversification, calling them a "big lie." He argues that modern portfolio theory has distracted investors, often making them poorer in the long run. Instead, he urges investors to focus on how their portfolios will perform in both good and bad markets.
According to Spitznagel, the key is to protect against one's own tendencies, not just market movements. Rather than fixating on what the market will do next, investors should think about how they'll react in boom and bust scenarios to avoid emotional mistakes like selling at the low and buying at the high.
Read Next: <a href="https://www.benzinga.com/news/earnings/24/10/41129610/nike-q1-earnings-revenue-miss-eps-beat-teams-energized-amid-ceo-transition-a-comeback-at-this-scale"> • Nike Q1 Earnings: Revenue Miss, EPS Beat, Teams &#8216;Energized&#8217; Amid CEO Transition — &#8216;A Comeback At This Scale Takes Time, But We See Early Wins&#8217;</a>
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Billionaire Investor Who Predicted 2000, 2008 Crashes Says Market Euphoria Will Top Soon, Warns Of 'Black Swan Event'

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