Rarely have so many assets been up this much at once. The frenzy has extended far beyond conventional markets tracked by Wall Street firms.
Morningstar said the Emerald Advisers fund was taking on too much cryptocurrency risk.
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Some SPACs are targeting companies with below-investment-grade credit ratings; not since the dot.com-boom two decades ago has stock-market enthusiasm been hot enough to fuel such activity in debt markets.
The recent drop in the price of bitcoin suggests the digital currency’s yearlong rally might finally be running out of steam.
Sentiment wavered this week between concerns about new waves of Covid-19 infections around the world and optimism prompted by promising economic data.
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Futures are edging up at the end of a choppy week for stocks.