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The benchmark US stock measures were tracking in the red before Friday's open as traders await the p

News of the day for Dec. 20, 2024

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The smooth economy that Donald Trump was poised to inherit suddenly looks a bit rockier — with critics saying the president-elect is contributing to the uncertainty. The Federal Reserve now sees inflation as staying stubbornly elevated as it has become cautious about further interest rate cuts planned for next year. On Wednesday, Trump blew up a bipartisan budget deal, which means the government could shut down after midnight Saturday.

As the Federal Reserve's rate cut and revised inflation outlook send bitcoin tumbling below $100K, the cryptocurrency market faces widespread sell-offs. Simultaneously, groundbreaking athlete endorsements, a surge in phishing scams, and legislative moves like Ohio's Bitcoin Reserve Act highlight crypto's pendular behavior.

The exchange-traded funds lost a record $671.9 million as bitcoin extended post-Fed losses below $100,000.

(Bloomberg) -- Bitcoin extended its slide from this week’s record high to almost 15% as hawkish signals from the Federal Reserve prompted traders to sell an asset that has more than doubled this year. Most Read from BloombergNew York City’s Historic Preservation Movement Is Having a Midlife CrisisNYPD Car Chases Are Becoming More Frequent — and More DangerousDakar’s Air Quality Plummets as Saharan Dust Descends on SenegalRescuing a Little-Known Modernist Landmark in BuffaloThe original cryptocur