Cryptocurrency prices retreated on Friday, following stocks lower as hawkish comments from Federal Reserve Chairman Jerome Powell spurred a broad-based selloff in risk assets. Bitcoin was down 3.7% to $20,821 in recent trade, while Ethereum’s Ether token was down 5.9% at $1,600. Other popular cryptocurrencies, including Cardano , and Solana , also saw prices decline. The main U.S. stock benchmarks were also in the red, with the S&P 500 down 2%, the Dow Jones Industrial Average down 1.7% and the Nasdaq Composite down 2.5%.
-Joseph Adinolfi
(END) Dow Jones Newswires
08-26-22 1210ET
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