To be fair, the move has little to do with crypto itself; values are down because of a feared trade war and waning consumer confidence. Bitcoin (CRYPTO: BTC) has been the biggest headline maker, falling 8.2% over the past 24 hours as of 11:45 a.m. ET. Ethereum (CRYPTO: ETH) is down 9.2% over that time, and Dogecoin (CRYPTO: DOGE) is off 9.1%.
Tariffs Talk is Driving Consumers' Inflation Anxiety
The Conference Board’s Consumer Confidence survey registered its biggest decline since 2021 in February.
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Asian shares were broadly lower on jitters from Trump's tariff threats against trade partners.
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Fed seen resuming rate cuts in June as consumer confidence takes a dive
U.S. consumer confidence deteriorated at its sharpest pace in 3-1/2 years in February, the Conference Board survey showed, reflecting growing American anxiety over the economic impact of President Donald Trump's policies. At the same time consumers' average inflation expectations rose to 6%, the highest since May 2023. Interest-rate futures contracts are now pricing in a more than 70% chance that the Fed will reduce its policy rate by a quarter of a percentage point at its June meeting, to a range of 4.00%-4.25%, and cut it again as soon as September.
Top Stock Movers Now: Sempra, Zoom, Home Depot, and More
A drop in the February report on consumer confidence sent U.S. equities lower at midday.
The return-to-office push hasn't helped boost America's struggling office market
Prices for office buildings will likely bottom sometime in 2025, one analyst told Business Insider.
Zoom Stock Sinks as Revenue Outlook Offsets Better-Than-Expected Results
Zoom Communications gave soft guidance as more employers move away from allowing workers to have hybrid work schedules.
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