Fed’s No-Intervention Stance Dampens Stock & Crypto Recovery Hopes

Federal Reserve Chair Jerome Powell ruled out any immediate intervention or rate cuts, dismissing market fears of a deeper downturn. While crypto markets held key levels, the risk of continued weakness remains high, according to analysts at Crypto Banter. This move caused stocks to plummet, with major tech companies like Nvidia and Tesla experiencing significant declines. The Nasdaq Composite fell 4% and the QQQ ETF saw similar losses, mirroring the broader market downturn.