The rise in stock markets and cryptocurrencies in the USA the previous day was reversed yesterday. Jerome Powell, Chairman of the US Federal Reserve, said:75 basis point rate hike not on the agendaAfter the announcement, the market welcomed the 50 basis point increase optimistically and there was an increase in stock markets and cryptocurrencies.
Loss due to high inflation and economic slowdown concerns, 500 percent in the S&P 500 index, which follows the shares of the largest 3,5 companies in the USA, 100 percent in the Nasdaq 100 index, which follows the largest 5 companies in the USA, followed by the 30 largest companies. It exceeded 3,1 percent in the Dow Jones index. The S&P 2020 index, which was the best day after May 500 the previous day, experienced the steepest daily decline of the two-year period after June 2020 yesterday.
Yesterday's declines were 7,6 percent in Amazon, 8,3 percent in Tesla and 5,6 percent in Apple. Losses in US stock markets exceeded $1,3 trillion yesterday and $8 trillion since the beginning of the year.
There Has Been A Big Decline In Cryptocurrency!
In addition to stocks, a sharp decline began in cryptocurrencies yesterday. Bitcoin (BTC), which approached $ 40 thousand after the Fed decision the previous day, fell to $ 8 with a decrease of more than 36.280 today. Ethereum (ETH) dropped more than 6 percent to $2.746, while Ripple (XRP) dropped close to 6 percent.
The total market cap of cryptocurrencies has dropped to $24 trillion, with losses of about 8 percent in the last 1,7 hours.
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