Stock market news today August 9

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Bank of America asked 65 investors their biggest
fear

The more that people cram into an investment position, the more
violent the stampede to the exits will be at the first sign of
trouble.

It’s a relatively straightforward dynamic that’s played out
countless times throughout market history, across a wide range of
asset classes.

And even though such a risk seems obvious, traders still have a
tough time knowing when to cut and run. After all, if they get
out too early, they could miss more potential gains.

Luckily, in the spirit of preventing a mass exodus, investors in
the credit space seem acutely aware of the risks associated with
crowded positions.
According to a Bank of America Merrill
Lynch (BAML) survey of 65 credit investors, a
sharp loss of liquidity is now their biggest worry of all.

Amazon just hit an all-time high as it inches towards
becoming a $1 trillion company

Shares of Amazon climbed 0.8% on Thursday,

hitting an all-time high of $1,899.96, as the e-commerce giant
inches towards a $1 trillion valuation.

The stock now just needs another 7% gain in order to hit a market
cap of $1 trillion. Based on the current number of outstanding
shares — 487.74 million — a stock price of $2,050.27 would get it
over the hump.

Apple made headlines last week when it
became the first US companyto reach
the milestone.

Tribune Media rejects $3.9 billion sale to
Sinclair

Tribune Media Co.
terminated its $3.9 billion deal to be acquired by Sinclair
Broadcast Group and filed suit, the company said Thursday,
after regulators objected to the acquisition that had received
support from US President Donald Trump.

Tribune filed a lawsuit against Sinclair, the largest US
broadcast station owner, alleging material breach of contract 15
months after the merger was first announced.

The Federal Communications Commission said in July that
Sinclair “did not fully disclose” facts about the merger, raising
questions about whether the company “attempted to skirt the
commission’s broadcast ownership rules.”

The crypto bear market has been a blessing for this
bitcoin trading firm’s booming new business

Bitcoin markets have been in a tailspin this week, but that’s
actually
been a blessing for one trading firm’s burgeoning new lending
business.

Genesis Global Trading, a crypto trading shop based in New
York, launched
a crypto lending unit, Genesis Capital, earlier this
year.That business originated $30 million in crypto loans on
Tuesday, its largest amount ever, according to chief executive
officer Michael Moro. The company typically lends out around $2
million per day on average.

In a sense, it could be a bearish indicator for the market. Many
of the people who are borrowing crypto from the firm are doing so
in order to take a short position on a given coin.

In markets news