Tag Archives: plummet

Elon Musk has watched Twitter plummet in value and OpenAI soar after he parted ways with it – Yahoo Finance

  1. Elon Musk has watched Twitter plummet in value and OpenAI soar after he parted ways with it Yahoo Finance
  2. Elon Musk’s Bid To Control OpenAI Was Met With Resistance From Co-Founders, Report Reveals – Alphabet (NASDAQ:GOOG), Alphabet (NASDAQ:GOOGL) Benzinga
  3. Sam Altman says his ‘hero’ Elon Musk is ‘obviously attacking’ OpenAI Business Insider
  4. Altman vs. Musk: OpenAI treads on Tesla’s robot turf with investment in Norway’s 1X Fortune
  5. Elon Musk Slams OpenAI: Accuses Company Of Losing Its Way – Microsoft (NASDAQ:MSFT), Tesla (NASDAQ:TSLA) Benzinga
  6. View Full Coverage on Google News

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Elon Musk has watched Twitter plummet in value and OpenAI soar after he parted ways with it – Fortune

  1. Elon Musk has watched Twitter plummet in value and OpenAI soar after he parted ways with it Fortune
  2. Elon Musk’s Bid To Control OpenAI Was Met With Resistance From Co-Founders, Report Reveals – Alphabet (NASDAQ:GOOG), Alphabet (NASDAQ:GOOGL) Benzinga
  3. OpenAI CEO Says Musk is Criticizing Company Due to AI Safety Concerns Times Now
  4. Elon Musk Reportedly Tried to Take Over OpenAI Several Years Ago, But Failed Futurism
  5. Elon Musk Slams OpenAI: Accuses Company Of Losing Its Way – Microsoft (NASDAQ:MSFT), Tesla (NASDAQ:TSLA) Benzinga
  6. View Full Coverage on Google News

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Stock market news today: Stocks plummet, yields fall amid Credit Suisse turmoil – Yahoo Finance

  1. Stock market news today: Stocks plummet, yields fall amid Credit Suisse turmoil Yahoo Finance
  2. Dow Jones Futures Fall 500 Points As Credit Suisse Triggers European Bank Sell-Off | Investor’s Business Daily Investor’s Business Daily
  3. Dow Plunges 500 Points As BlackRock Chief Warns SVB Collapse Merely ‘First Domino To Drop’ Forbes
  4. S&P 500, Dow Jones and Nasdaq Rip Higher – Banks & Tech Stocks Surge DailyFX
  5. Jim Cramer’s top things to watch in the stock market Wednesday: Banking risk re-examined and markets sink CNBC
  6. View Full Coverage on Google News

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Temperatures continue to plummet across the central US as arctic air pushes south and east this morning



CNN
 — 

The major winter storm crossing the nation is causing dramatic declines in temperatures across the central US as arctic air pushes south and east.

Some highlights:

Casper, Wyoming

(Mountain time)

In less than 18 hours, from 7:40 a.m. Wednesday to 1:35 a.m. Thursday, the temperature dropped 70 degrees.

7:40 a.m. Wednesday: 28 degrees.

8 a.m. Wednesday: 3 degrees.

Casper dropped 25 degrees in just 20 minutes Wednesday.

1:35 a.m. Thursday: minus 42 degrees

6:00 a.m. Thursday: minus 35 degrees with a wind chill of minus 76 degrees.

LIVE NEWS: Winter storm and severe cold sweeps across the US

Denver

(Mountain time)

Dropped 65 degrees in 16 hours.

12:58 p.m. Wednesday: 50 degrees.

4:58 a.m. Thursday: minus 15 degrees.

The largest plunge came when temperatures dropped 47 degrees in just two hours Wednesday from 46 degrees at 3:58 p.m. to minus 1 degree at 5:58 p.m.

Amarillo, Texas

(Central time)

Dropped 42 degrees in six hours.

11:53 p.m. Wednesday: 41 degrees.

5:53 a.m. Thursday: minus 1 degree.

The current wind chill this morning is minus 7 degrees.

Wichita, Kansas

(Central time)

Dropped 36 degrees in nine hours.

9:53 p.m. Wednesday: 34 degrees.

6:53 a.m. Thursday: minus 2 degrees.

However the temperature dropped 20 degrees from 32 to 12 in just one hour between 11:53 p.m. and 12:53 a.m. Wednesday night.

Temperatures are still falling and are expected to bottom out near minus 4 later Thursday morning.

Kansas City, Missouri

(Central time)

Dropped 30 degrees in 6 hours.

11:54 p.m. (Wednesday): 32 degrees.

5:54 a.m. (Thursday): 2 degrees.

And temperatures are forecast to continue falling this morning, bottoming out near minus 7 by midday.

Oklahoma City

(Central time)

Dropped 34 degrees in 14 hours.

4:52 p.m. (Wednesday): 42 degrees.

6:52 a.m. (Thursday): 8 degrees.

The biggest plunge was 23 degrees in just 2 hours early this morning when temperatures dropped from 37 at 2:52 a.m. to 14 degrees at 4:52 a.m.

Temperatures are expected to bottom out near 4 degrees later Thursday morning.

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Over $540M Liquidated as Bitcoin, Ethereum Plummet

Bitcoin (BTC) continued its bearish price action for the third straight day, with the leading cryptocurrency dropping to a weekly low of $21,814 today, according to data from CoinMarketCap.

After a short recovery, Bitcoin now changes hands at around $21,785 a piece, down 6.9% on the day despite a 7.69% jump in daily trading volumes.

The market capitalization of Bitcoin has more than halved, plummeting from $1.27 trillion last November to under $417 billion today.

Ethereum, the second-largest cryptocurrency by market cap, has also slipped to around $1,728, a 6.2% decline over the past 24 hours.

With a current market capitalization of $211.5 billion, ETH is down 64.49% from its all-time high of $4,891 recorded in November, according to data from CoinMarketCap.

Amid the bearish price action, over $537 million from 156,155 traders have been liquidated in the crypto market over the past 24 hours, suggests data from Coinglass

Bitcoin leads liquidations with $201.3 million, followed by Ethereum with $132.7 million over the same period.

The vast majority of liquidations for the two leading cryptocurrencies came from blown-out long positions.

Other cryptocurrencies, including Binance Coin (8%), Solana (11.6%), Polygon (11.85%), and Avalanche (14.3%), have also posted tremendous losses over the past 24 hours, according to CoinMarketCap.

Bitcoin, Ethereum react to the Fed 

The market’s bearish price action is likely linked to the Fed’s expected rate hike next month and the reduced DeFi activity.

As reported by Wall Street Journal, St. Louis Fed President James Bullard favors a 0.75% rate hike by next month. Mary Daly, San Fransisco’s Fed President, also confirmed a 0.50% or 0.75% rate hike next month, as reported by Reuters.

Both have confirmed that the rates could be hiked as long as rising inflation is controlled. 

User activity across all DeFi applications on Ethereum has also been negative over the last week, following concerns related to the upcoming merge event.

According to data from Dune Analytics,  decentralized exchange (DEX) trading volume has dropped 34% over the past 24 hours.

As per data from DefiLlama, the total value locked (TVL) across all the blockchains is down over 3.75% in the past 24 hours, indicating reduced user interest in DeFi.

Disclaimer

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

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Unexpected solar weather is causing satellites to plummet from orbit

In late 2021, operators of the European Space Agency’s (ESA) Swarm constellation noticed something worrying: The satellites, which measure the magnetic field around Earth, started sinking toward the atmosphere at an unusually fast rate — up to 10 times faster than before. The change coincided with the onset of the new solar cycle, and experts think it might be the beginning of some difficult years for spacecraft orbiting our planet. 

“In the last five, six years, the satellites were sinking about two and a half kilometers [1.5 miles] a year,” Anja Stromme, ESA’s Swarm mission manager, told Space.com. “But since December last year, they have been virtually diving. The sink rate between December and April has been 20 kilometers [12 miles] per year.”

Satellites orbiting close to Earth always face the drag of the residual atmosphere, which gradually slows the spacecraft and eventually makes them fall back to the planet. (They usually don’t survive this so-called re-entry and burn up in the atmosphere.) This atmospheric drag forces the International Space Station‘s controllers to perform regular “reboost” maneuvers to maintain the station’s orbit of 250 miles (400 km) above Earth. 

This drag also helps clean up the near-Earth environment from space junk. Scientists know that the intensity of this drag depends on solar activity — the amount of solar wind spewed by the sun, which varies depending on the 11-year solar cycle. The last cycle, which officially ended in December 2019, was rather sleepy, with a below-average number of monthly sunspots and a prolonged minimum of barely any activity. But since last fall, the star has been waking up, spewing more and more solar wind and generating sunspots, solar flares and coronal mass ejections at a growing rate. And the Earth’s upper atmosphere has felt the effects.

Related: The biggest spacecraft ever to fall uncontrolled from space

“There is a lot of complex physics that we still don’t fully understand going on in the upper layers of the atmosphere where it interacts with the solar wind,” Stromme said. “We know that this interaction causes an upwelling of the atmosphere. That means that the denser air shifts upwards to higher altitudes.”

Denser air means higher drag for the satellites. Even though this density is still incredibly low 250 miles above Earth, the increase caused by the upwelling atmosphere is enough to virtually send some of the low-orbiting satellites plummeting. 

“It’s almost like running with the wind against you,” Stromme said. “It’s harder, it’s drag — so it slows the satellites down, and when they slow down, they sink.”

Knocked down by a solar storm  

The Swarm constellation, launched in 2013, consists of three satellites, two of which orbit Earth at an altitude of 270 miles (430 km), about 20 miles (30 km) above the International Space Station. The third Swarm satellite circles the planet somewhat higher — about 320 miles (515 km) above ground. The two lower-orbiting spacecraft were hit more by the sun’s acting out than the higher satellite was, Stromme said. 

The situation with the lower two got so precarious that by May, operators had to start raising the satellites’ altitude using onboard propulsion to save them. 

ESA’s Swarm satellites are not the only spacecraft struggling with worsening space weather. In February, SpaceX lost 40 brand-new Starlink satellites that were hit by a solar storm just after launch.

Related: Fiery death of SpaceX Starlink satellites captured on video after geomagnetic storm

The sun unleashed a major X1.1 class solar flare from an active sunspot cluster on its eastern limb on April 17, 2022. (Image credit: NASA/SDO and the AIA, EVE, and HMI science teams)

In such storms, satellites suddenly drop to lower altitudes. The lower the orbit of the satellites when the solar storm hits, the higher the risk of the spacecraft not being able to recover, leaving operators helplessly watching as the craft fall to their demise in the atmosphere.

Starlink satellites have operational orbits of 340 miles (550 km), which is above the most at risk region. However, after launch, Falcon 9 rockets deposit the satellite batches very low, only about 217 miles (350 km) above Earth. SpaceX then raises the satellites’ orbits using onboard propulsion units. The company says that approach has advantages, as any satellite that experiences technical problems after launch would quickly fall back to Earth and not turn into pesky space debris. However, the increasing and unpredictable behavior of the sun makes those satellites vulnerable to mishaps. 

New space and the unpredictable sun

All spacecraft around the 250-mile altitude are bound to have problems, Stromme said. That includes the International Space Station, which will have to perform more frequent reboost maneuvers to keep afloat, but also the hundreds of cubesats and small satellites that have populated low Earth orbit in the past decade. Those satellites — a product of the new space movement spearheaded by private entrepreneurs pioneering simple, cheap technologies — are particularly vulnerable.

“Many of these [new satellites] don’t have propulsion systems,” Stromme said. “They don’t have ways to get up. That basically means that they will have a shorter lifetime in orbit. They will reenter sooner than they would during the solar minimum.”

By coincidence (or beginner’s luck), the onset of the new space revolution came during that sleepy solar cycle. These new operators are now facing their first solar maximum. But not only that. The sun’s activity in the past year turned out to be much more intense than solar weather forecasters predicted, with more sunspots, more coronal mass ejections and more solar wind hitting our planet.

“The solar activity is a lot higher than the official forecast suggested,” Hugh Lewis, a professor of engineering and physical sciences at the University of Southampton in the U.K. who studies the behavior of satellites in low Earth orbit, told Space.com. “In fact, the current activity is already quite close to the peak level that was forecasted for this solar cycle, and we are still two to three years away from the solar maximum.”

Stromme confirmed those observations. “The solar cycle 25 that we are entering now is currently increasing very steeply,” she said. “We do not know if this means that it will be a very tough solar cycle. It could slow down, and it could become a very weak solar cycle. But right now, it’s increasing fast.”

Cleaning up orbits 

While the harsh solar activity is bad news for satellite operators, who will see the lifetimes of their missions shortened (even satellites with onboard propulsion will run out of fuel much faster because of the need for frequent altitude boosts), the situation will have some welcome purifying effects on the space around Earth. 

In addition to becoming populated with hundreds of new satellites over the past decade, this region of space is  cluttered with a worrying amount of space debris (old satellites, spent rocket stages and collision fragments). Researchers like Lewis have long warned that the omnipresent junk hurtling around the planet threatens the safety of satellite services, forcing operators to conduct frequent avoidance maneuvers. Moreover, the debris might trigger an out-of-control situation known as Kessler syndrome, an unstoppable cascade of collisions as depicted in the 2013 Oscar-winning movie “Gravity.”

“Generally speaking, increasing solar activity — and its effect on the upper atmosphere — is good news from a space debris perspective, as it reduces orbital lifetimes of the debris and provides a useful ‘cleaning service,'” Lewis said. 

According to Jonathan McDowell, a space debris expert at the Harvard-Smithsonian Center for Astrophysics, the positive effect can already be observed, as fragments produced by the November 2021 Russian anti-satellite missile test are now coming down much faster than before. 

However, there is a downside to this cleansing process. 

“The increased rate of decay of debris objects can be perceived almost like rain,” Lewis said. “When solar activity is high, the ‘rain’ rate is higher, and missions at lower altitudes will potentially experience a greater flux of debris.”

A greater flux of debris means the need for even more frequent fuel-burning avoidance maneuvers and a temporarily increased risk of collisions, which could potentially generate more dangerous fragments. 

Stromme and her colleagues are currently raising the orbit of the two low-orbiting Swarm satellites by 28 miles (45 km). The satellites might require even more adjustments later this year, she added. The goal is to help the mission, which is currently in its ninth year and beyond its originally planned lifetime, to get through the solar cycle. Whether the team succeeds will largely depend on the behavior of the sun. 

“We still have fuel to get us hopefully through another solar cycle,” Stromme said. “If it grows like now, I will use up the fuel before the solar cycle is finished. If it slows down a little, I might save them through the solar cycle.”

Follow Tereza Pultarova on Twitter @TerezaPultarova. Follow us on Twitter @Spacedotcom and on Facebook



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‘It’s unlikely home prices will plummet.’ 5 pros predict home prices in 2022

Will home prices fall?


Getty Images

Gone are the uber-low mortgage rates of 2021. Indeed, average 30-year-fixed mortgage rates have risen from roughly 3.5% to about 5.6% this year, and pros say they expect them to climb further (see the lowest mortgage interest rates you can get now here). One might think that these rising rates would help temper home price growth, as families become less likely to be able to afford a mortgage, but is that true? And what else is happening with home prices? We asked five pros to weigh in.

Prediction 1: Inventory shortages mean home prices may keep rising

The supply of homes available for sale is so low that even a big dent in demand as a result of higher rates will not transform this into a buyer’s market, pros say.  “Home prices will keep going up because there aren’t enough houses available to meet demand, but the combination of rising home prices and elevated mortgage rates means fewer people will be able to afford to buy,” says Holden Lewis, home and mortgage expert at Nerdwallet, who predicts that mortgage rates will keep rising but at a slower pace than they did over the last few months (see the lowest mortgage interest rates you can get now here). This means demand will likely drop off in the fall and winter, though home prices will continue to rise, albeit more slowly, Lewis says.

Prediction 2: Cash buyers are still playing a big role in this housing market — and that means rates don’t have as big an impact as you might think

“Nearly 30% of transactions are taking place in cash, so there’s a sizable contingent of buyers that are not interest-rate sensitive,” says Greg McBride, chief financial analyst at Bankrate. That means that rising rates won’t have as big of an impact on this housing market as one might think.

Prediction 3: Demand will remain high(ish), and so will home prices 

Rapidly rising mortgage rates have had a negative impact on demand for mortgages since the start of the year, but there’s no indication that demand has plummeted, says Jacob Channel, LendingTree’s senior economic analyst. As of April, the Mortgage Bankers Association predicts that total mortgage originations will total $2.58 trillion in 2022, a 35.5% decrease from 2021. While that is a large drop, it’s important to note that if originations were to total $2.58 trillion they’d still be higher than in 2019. Meanwhile, data from the Census Bureau and HUD indicates that the median home price for new residential homes in March 2022 was higher than it was in March 2021, despite rising rates. “This suggests that people are still willing to pay top dollar for houses even in a rising rate environment,” says Lewis.

The cost of financing the typical home listed for sale has increased significantly in the last year, which has caused many shoppers to rethink budgets and likely knocked some households out of the home purchase market for now, says Realtor.com  economist Danielle Hale. But at the same time, a large number of young households still desire home ownership and feel urgency to find a home and lock in a rate before mortgage rates and home prices climb again (see the lowest mortgage interest rates you can get now here). “Combine these adjustments to shifting financial conditions with the still-large share of households at key home buying ages and the decades-long under-building in the housing market that has left the market undersupplied, and it’s a recipe for prices to remain high,” says Hale.

At the end of the day, home-buying demand has thus far remained resilient in the face of rapidly rising prices and recent interest rate gains, both of which limit what home buyers can afford. “There will be a point when costs become too high for too many and price growth begins to slow, but we’re a long way from anything resembling a normal market by pre-pandemic standards. There are far fewer homes for sale than what the market would normally expect this time of year and homes continue to sell remarkably quickly. Zillow economists expect home values to grow another 14.9% over the next year,” says Zillow senior economist Matthew Speakman.

See the lowest mortgage interest rates you can get now here.

Prediction 4: It would take a big event to send home prices plummeting

Ultimately, for rising rates to torpedo home prices, we’d have to see considerably less demand and considerably more housing supply than what we’re currently seeing, pros say. “Even if price growth does cool this year, all current data indicates that it’s highly unlikely that home prices will plummet. Barring some sort of large-scale mortgage defaulting that triggers massive home selloffs like what we saw prior to the 2008 financial collapse, or mortgage rates suddenly climbing to the double-digit levels they were at in the early 1980s, it seems like high home prices are here to stay,” says Lewis.

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Dow soars 750 points as oil prices plummet 12 percent

Stocks have been hammered in recent months by a triple dose of uncertainty stemming from shifting monetary policy, inflation, and the steady run-up to Russia’s unprovoked invasion of its neighbor. Volatility intensified the past two weeks as Western nations and businesses have cut off Russia’s economy, driving up oil prices.

Analysts expect oil prices to remain elevated or climb higher as long as the conflict in Ukraine continues. The United States, Britain and European Union have moved to limit purchases of Russian oil in recent days, raising the prospect of retaliation. The Kremlin has warned that global oil prices could hit $300 per barrel if Western nations ban Russian energy exports.

But investors appear reassured by recent comments from Ukrainian leaders, three analysts told The Washington Post. Ukrainian President Volodymyr Zelensky told ABC News Monday he had “cooled” on the prospect of NATO membership, and one of his aides told Bloomberg Television Ukraine is open to discussing Russia’s demand of neutrality.

“Any signs of a diplomatic off-ramp — for example, Zelensky expressing openness to a future for Ukraine without NATO membership — have the effect of cooling off oil prices,” said Raymond James energy industry analyst Pavel Molchanov.

In this case, the idea that Ukraine is no longer demanding NATO membership appears to have sparked a short-term speculative rally, and computer-driven trading may have exacerbated the stock-price surge.

The steep decline in oil prices comes as stock prices have taken a beating, with major indexes already in correction territory before the Ukraine conflict began. With all three indexes down more than 8 percent year to date, investors are looking for buying opportunities.

“Selling in recent weeks has been relentless, and today feels like a beach ball has popped back up after being held underwater,” said Michael Farr of the D.C.-based investment firm Farr, Miller & Washington.

Markets surged in Europe, where energy markets are closely linked to Russia. Overseas, Germany’s DAX index jumped 7.9 percent, while France’s CAC 40 was up 7.1 percent. The Pan-European Stoxx rose 4.7 percent. Britain’s FTSE100 rose 3.2 percent. Asian indexes were mostly negative, with the Hang Seng off 0.7 percent and the Nikkei down 0.3 percent.

Gold, a Russian export and traditionally a “safe haven” asset, fell 2.7 after a broader weeks-long climb, to settle at $1,988.80 per troy ounce.

Energy stocks, bolstered in recent weeks by rising gas prices, trailed off on Wednesday. Chevron was down 2.8 percent by midafternoon, Shell was down 2 percent, and BP declined 2.5 percent.

Analysts cautioned that the market’s wild swings are likely to continue, with multiple sources of uncertainty related to inflation, rising interest rates, and rising energy prices still exerting pressure on the markets.

“Investors should expect continued volatility given the uncertainties related to both geo-political events as well as factors such as inflation and rising rates that could impair future growth prospects,” said Wayne Wicker, chief investment officer at MissionSquare Retirement.

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Russian Bonds Plummet as Foreign Investors Fear Defaults

Prices of Russian government bonds fell more than 50% Monday as foreign investors grew concerned that Western sanctions would undermine the country’s ability and willingness to pay them back.

Russian 5.25% dollar-denominated bonds due in 2047 were quoted around 30 cents on the dollar, down from 70 the previous trading day and around 100 before Russia invaded Ukraine, according to Advantage Data Inc. Bids for a $2 billion bond that falls due in April dropped to about 50 cents on the dollar from 95.50 late last week.

Moves by the U.S. and European governments to cut off Russian access to the international Swift banking network might prevent the country from distributing payments to bondholders abroad, emerging-markets bond-fund managers said.

Bond trustees and clearing agents that sit between bond issuers and their lenders might also refuse to pass along such payments for fear of running afoul of sanctions, they said.

Even if Russia finds a way to pay foreign bondholders, it might choose not to in retaliation for the sanctions imposed by Western nations, as well as for their military support of Ukraine, the fund managers said.

Economic fallout from the war in Ukraine could also boost the rate of corporate bond defaults across Europe, which had been on the wane since early in 2021, according to S&P Global Ratings. Continuing geopolitical tension, particularly with respect to the Ukraine-Russia conflict, could have an impact, the credit-rating firm said in a report Monday.

The price of Russian energy company Gazprom PJSC’s 4.95% bond due in 2028 fell to 45 cents on the dollar Monday from around 92 cents a week ago, according to data from MarketAxess. Oil company Lukoil PJSC’s 3.875% bond due 2030 dropped to 40 cents from 87 cents over the same period.

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International Space Station will plummet to a watery grave in 2030 | International Space Station

The International Space Station (ISS) will continue its operations until 2030 before heading for a watery grave at the most remote point in the Pacific, Nasa confirmed in a new transition plan this week.

More than 30 years after its 1998 launch, the ISS will be “de-orbited” in January 2031, according to the space agency’s budget estimates. Once out of orbit the space station will make a dramatic descent before splash landing in Point Nemo, which is about 2,700km from any land and has become known as the space cemetery, a final resting place for decommissioned space stations, old satellites, and other human space debris.

Also known as the “Oceanic Pole of Inaccessibility” or the “South Pacific Ocean Uninhabited Area,” the region around the space cemetery is known for its utter lack of human activity. It’s “pretty much the farthest place from any human civilization you can find”, as NASA put it.

Nasa said it plans to continue future space research by buying space and time for astronaut scientists on commercial spacecraft.

While celebrating the ISS’s record of scientific accomplishments, Robyn Gatens, the director of the International Space Station at NASA Headquarters, also emphasized in a statement that its current goal was to “lay the groundwork for a commercial future in low-Earth orbit”.

“We look forward to sharing our lessons learned and operations experience with the private sector to help them develop safe, reliable and cost-effective destinations in space,” said Phil McAlister, the director of commercial space at Nasa headquarters, said in a statement.

Nasa estimated that transitioning its space research from a dedicated space station to renting space aboard commercial space ventures would save $1.3bn in 2031 alone, and that the savings could “be applied to Nasa’s deep space exploration initiatives, allowing the agency to explore further and faster into deep space”.

The ISS, about the size of an American football field, orbits the earth about once every 90 minutes, and has been continuously occupied by astronauts since November 2000.

In September, a Russian official warned that small cracks had been discovered on the space station that could worsen over time and raised concerns about aging equipment and the risk of “irreparable failures”, BBC News reported.

The space station was originally intended to operate for just 15 years, but Nasa said in a report that “there is high confidence that ISS life can be further extended through 2030”, though some analyses of its viability are still being conducted.

ISS was “examining the recent technical issues aboard the Russian segment”, Nasa said in its report.

Since 1971, nearly 300 different chunks of space debris, including at least five space stations, have been sunk at Point Nemo, most of them American or Russian in origin, according to a law review article about the space cemetery’s environmental impact.

The space station’s end is likely to be fiery. The “downfall” of Mir, the Russian space station, happened in March 2001, when a cargo ship fired its engines to push the space station out of orbit and send it plummeting towards earth. While solar panels and other peripheral pieces of the space station broke off during its fall, about 20 to 25 tons of remnants fell together, resulting in sonic booms, according to Nasa’s documentation.

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