US Stocks Lose $1 Trillion in a Day
1Investors hurried to reduce risk as Fed Chair Jerome Powell signaled that additional rate hikes were still on the table, despite recent data indicating that inflation was already moderating.
Overall, the US stock market lost more value than the total market capitalization of Bitcoin and altcoins.
According to statistics from Cointelegraph Markets Pro and TradingView, the global crypto market cap plummeted from $1.029 trillion to $936.87 billion overnight, signifying an 8.95% loss.
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