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Bitcoin and Ether fall as crypto drops after Powell’s Jackson Hole speech

Cryptocurrency prices retreated on Friday, following stocks lower as hawkish comments from Federal Reserve Chairman Jerome Powell spurred a broad-based selloff in risk assets. Bitcoin
BTCUSD,
-4.21%

was down 3.7% to $20,821 in recent trade, while Ethereum’s Ether token
ETHUSD,
-7.54%

was down 5.9% at $1,600. Other popular cryptocurrencies, including Cardano
ADAUSD,
-5.43%
,
and Solana
SOLUSD,
-7.79%
,
also saw prices decline. The main U.S. stock benchmarks were also in the red, with the S&P 500
SPX,
-2.20%

down 2%, the Dow Jones Industrial Average
DJIA,
-1.90%

down 1.7% and the Nasdaq Composite
COMP,
-2.65%

down 2.5%.


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