The US Consumer Price Index rose to 3.7% in September, a significant increase from 3.4% in August, reigniting inflation fears. This persistent inflation wiped out approximately $800 billion in S&P 500 market capitalization in a single session, marking the worst day since late July. Bitcoin plunged to a monthly low of $80,200 as the prospect of higher-for-longer interest rates intensifies. Analysts note that US inflation has remained above the Federal Reserve’s 2% target for 67 consecutive months.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
