Bitcoin, Major Cryptos Slide as Markets Digest Hawkish Powell Remarks

While such scenarios take months to play out, traders price in changes anticipating lower earnings, which leads to a drop in equity valuations. On Wednesday, for example, U.S. futures on S&P 500 dropped 0.4% while technology-heavy Nasdaq dropped 0.6%. European markets showed nominal movement as Germany’s DAX rose less than 0.1% while Stoxx 600 slid 0.1%.

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