Ethereum (ETH) led losses, underperforming cryptocurrency majors, amid the selloff on Thursday morning with personal consumption expenditure (PCE) data, initial jobless claims, and gross domestic product (GDP) numbers expected later in the day.

The primary focus is likely to be on the latest PCE report, which is the Federal Reserve’s preferred inflation gauge and will be first under new Fed chair Kevin Warsh. Inflation fears remain amid the ongoing geopolitical tensions between the U.S. and Iran.

Economists polled by Dow Jones expect the headline PCE price index to rise 0.5% month-over-month in May, accelerating from April’s 0.7% increase. On an annual basis, PCE inflation is forecast to rise 3.8%, up from 3.5% previously. Core PCE,…