Crypto Turns Broadly Lower in U.S. Afternoon Trade as Stocks Give Away Gains

has tumbled after rallying earlier Wednesday as U.S. stocks gave up a sizable early advance to turn lower in U.S. mid-afternoon action.at press time was trading at $54,800, down just shy of 4% from 24 hours ago and more than 6% from the $57,600 level touched a few hours earlier. Etheris faring worse at $2,322, lower by 7.1% over the last day and sending its ratio against bitcoin to thehike borrowing costs when markets are unstable.

, JPMorgan CEO didn't sound so sure that the U.S. Federal Reserve would be successful in returning inflation to its 2% target. Worrying him on inflation are things like deficit spending,"remilitarization," and the green economy shift. Of what appears to be an imminent Fed rate cut, Dimon says it's likely coming, but he doesn't expect it to have much effect.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin.

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