The world’s largest IT companies have lost more than $1 trillion in market value, and more than 40% of BTC investors have gone into negative territory due to the cryptocurrency’s plunge – these and other important news for Tuesday morning, May 10, in our daily review.

U.S. President Joe Biden said he is concerned that Russian President Vladimir Putin may not have an exit plan for the conflict in Ukraine. According to the US leader, it is necessary to understand what to do about the possible lack of such an exit, Reuters reports.

Bitcoin has fallen in value by nearly 55% from its peak in November 2021. 40% of cryptocurrency holders are now below the level of their BTC investments, CNBC writes, citing a report by blockchain analysts Glassnode.

U.S. IT giants have lost more than $1 trillion in market value over the past three trading days – May 5, 6 and 9. The sell-off began after the U.S. Federal Reserve decided to raise interest rates by half a percentage point on Wednesday, May 4, CNBC reported.

Biden on Monday signed into law a lend-lease bill designed to make it easier for the U.S. to send arms to Ukraine, Bloomberg reported.

Russia’s Finance Ministry expects the country’s GDP to shrink 12 percent this year, Bloomberg learned. That’s the biggest downturn in the country’s economy since 1994. If this forecast comes true, it would wipe out about 10 years of economic growth.