đ¨ Powellâs Hawkish Stance Sends Markets Tumbling, But Crypto Stands Strong đ¨
After Federal Reserve Chair Jerome Powellâs hawkish comments on interest rates, the S&P 500 plunged, wiping out $1.8 trillion in value, quashing hopes for a year-end rally. This has left traditional markets in turmoil, with uncertainty stretching into 2024.
Meanwhile, the crypto market has shown surprising resilience, holding steady amid the chaos. Speculation about potential political moves, including from figures like Trump, could add more volatility to the mix. In these turbulent times, traders are navigating a high-risk landscape, but cryptoâs stability offers a glimmer of hope.
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