Did the Fed Just Crush Crypto and Stocks’ Recovery Hopes?
- Jerome Powell says the Fed won’t step in if markets drop further.
- Stock markets plunge while Bitcoin holds, but faces critical resistance.
- Crypto Banter warns crypto may soon follow stocks if weakness persists.
The Federal Reserve may have just dashed hopes for a swift recovery in both crypto and stock markets. Speaking on Wednesday, Fed Chair Jerome Powell ruled out any immediate intervention or rate cuts, triggering a sharp selloff in equities.
While crypto markets held key levels, the Crypto Banter YouTube podcast says the risk of a delayed downturn remains high.
Why Did Stocks Drop After Powell’s Comments?
Markets had anticipated a potential policy shift from the Federal Reserve in light of recent volatility. However, Powell clarified that the central bank had no plans to cut rates or provide emergency support, even if stocks continued to fall. He emphasized that markets are “functioning as they should,” despite growing uncertainties.
The comments triggered a sharp selloff across major U.S. indices. Tech giants Nvidia and Tesla dropped 10% and 8% respectively, while the Nasdaq Composite fell 4%, mirrored by the QQQ ETF.
Related: Powell …
The post Did the Fed Just Crush Crypto and Stocks’ Recovery Hopes? appeared first on Coin Edition.
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Did the Fed Just Crush Crypto and Stocks’ Recovery Hopes?
- Jerome Powell says the Fed won’t step in if markets drop further.
- Stock markets plunge while Bitcoin holds, but faces critical resistance.
- Crypto Banter warns crypto may soon follow stocks if weakness persists.
The Federal Reserve may have just dashed hopes for a swift recovery in both crypto and stock markets. Speaking on Wednesday, Fed Chair Jerome Powell ruled out any immediate intervention or rate cuts, triggering a sharp selloff in equities.
While crypto markets held key levels, the Crypto Banter YouTube podcast says the risk of a delayed downturn remains high.
Why Did Stocks Drop After Powell’s Comments?
Markets had anticipated a potential policy shift from the Federal Reserve in light of recent volatility. However, Powell clarified that the central bank had no plans to cut rates or provide emergency support, even if stocks continued to fall. He emphasized that markets are “functioning as they should,” despite growing uncertainties.
The comments triggered a sharp selloff across major U.S. indices. Tech giants Nvidia and Tesla dropped 10% and 8% respectively, while the Nasdaq Composite fell 4%, mirrored by the QQQ ETF.
Related: Powell …
The post Did the Fed Just Crush Crypto and Stocks’ Recovery Hopes? appeared first on Coin Edition.
Read More
Donald Trump Pushes Rate Cuts as Crypto Market Holds Steady at $2.79T