8 Reasons Why the Fed Might Not Want to Cut Rates in September
Cryptocurrencies and related stocks extended losses Tuesday as traders braced for the release of the Fed’s FOMC minutes on Wednesday and Fed Chair Jerome Powell’s Jackson Hole speech on Friday.
Bitcoin dropped 3.2% in the past 24 hours to slip below $114,000, while ether fell 5.3% to under $4,200. XRP tumbled 6.2%, Cardano’s ADA slid 8% and the broader crypto market was down 3.2%.
Shares of crypto-related companies, such as bitcoin miners, crypto exchanges and digital asset treasury firms, suffered even bigger losses, with MARA, COIN and MSTR closing today’s regular session down 5.7%, 5.8% and 7.4%, respectively.
By contrast, in general, U.S. equities suffered less: the Dow ended flat, the S&P 500 fell 0.59%, and the Nasdaq slid about…
