CFA Society New York SmartBrief
Crypto market losses rise to $1.2T amid rout
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November 18, 2025
 
 
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Top Story
 
Investors shed assets ahead of key economic, tech tests
Financial markets experienced a broad sell-off Monday, with the Dow Jones Industrial Average having its worst three-day stretch since 2018. The sell-off was driven by investor concerns ahead of key events, including Nvidia's earnings report and delayed jobs data. Tech stocks, cryptocurrencies and gold all declined, with notable drops in companies such as Apple and Meta.
Full Story: The Wall Street Journal (11/17), Barron's (11/17), Yahoo (11/17)
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Industry Update
 
Treasurys rise as investors eye Fed's next move
US Treasurys rose slightly on Monday, recovering some losses from last week, amid optimism that the Federal Reserve might cut interest rates again next month. However, the outlook for a December rate cut has diminished after several Fed officials expressed doubts about the need for further cuts. The 10-year Treasury yield fell by 2 basis points to 4.13%.
Full Story: Bloomberg (11/17)
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Crypto market losses rise to $1.2T amid rout
The cryptocurrency market has lost $1.2 trillion in value over the past six weeks amid concerns about tech valuations and US interest rates. The value of more than 18,000 coins tracked by CoinGecko is down 25% since Oct. 6, with Bitcoin down more than 28%.
Full Story: Financial Times (11/18), PYMNTS (11/18), Bloomberg (11/17)
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Fed's Waller backs Dec. rate cut as labor market weakens
Federal Reserve Governor Christopher Waller has expressed support for another interest rate cut at the Federal Open Market Committee meeting in December, citing concerns about labor market weakening and slowing hiring. Waller, who has spoken in favor of cuts in recent months, says he is not worried about rising inflation and that a rate cut would be "risk management" to prevent further labor market deterioration.
Full Story: Reuters (11/17), CNBC (11/17), MarketWatch (tiered subscription model) (11/17)
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New York Focus
 
Measles cases in Hudson Valley prompt call for vaccination
Health officials in New York's Hudson Valley are concerned about a measles outbreak after a child infected visitors at a doctor's office, while three additional cases were confirmed in Rockland County after a resident contracted the virus following international travel and two known contacts became infected. Health officials urge residents to verify their immunity and get the measles, mumps and rubella vaccine.
Full Story: Hudson Valley Post (Poughkeepsie, N.Y.) (11/17)
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NYC luxury hotels elevate drinks scene with unique cocktails
New York City luxury hotels are enhancing the city's renowned drinks scene with its beverage programs. The Langham offers an extensive wine list at Ai Fiori, 1 Hotel Brooklyn Bridge focuses on sustainability at Harriet's Lounge, and The Wall Street Hotel features innovative martinis at Lounge on Pearl.
Full Story: Forbes (tiered subscription model) (11/17)
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Career Development
 
Break your busyness delusion with the 3-priority rule
 
Break your busyness delusion with the 3-priority rule
(Paul Harizan/Getty Images)
By asking ourselves, "What did I accomplish today?" or "What problems did I solve?" we can break out of the "busyness delusion" that convinces us if we're multi-tasking or answering every email, we're being productive, when, in reality, we're spinning our wheels, writes Brendan Keegan, CEO of 6X. "Try the three-priority rule: every day, identify the three most important things you need to accomplish. Everything else is secondary. If you can't complete those three things because you're too busy with other activities, you're not busy -- you're distracted," Keegan advises.
Full Story: Rolling Stone (11/6)
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People & Personalities
 
Trump defends economy performance at industry event
President Trump told McDonald's franchisees at an event they were "lucky" he won in 2024, arguing the economy would have been worse otherwise, even as inflation remains at 3% and monthly job growth has fallen below 30,000. The remarks come amid rising GOP backlash over economic performance and significant layoffs expected from major employers.
Full Story: Bloomberg (11/17), The Hill (11/17), Axios (11/17)
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On The Economy
 
Jobless claims rise amid shutdown data delays
US initial jobless claims reached 232,000 in the week ending Oct. 18, according to Labor Department data published through its online database during the government shutdown. Continuing claims edged up to 1.96 million as economists relied on state-level filings and seasonal factors to estimate labor-market conditions while major federal reports remain delayed.
Full Story: Bloomberg (11/18)
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