“Risky assets are struggling as Powell’s fight against inflation will remain aggressive even as it will trigger an economic slowdown,” says Edward Moya, a senior market analyst at brokerage firm Oanda.
Experts point to a potential recession, rising interest rates, the war in Ukraine, and stubbornly high inflation as reasons for why we’re seeing slumping prices in the stock and crypto markets. Crypto has been increasingly tracking the stock market lately, which makes it even more intertwined with macroeconomic factors, experts say.
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