Bitcoin and Ether fall as crypto drops after Powell’s Jackson Hole speech

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
BTCUSD,
-3.12%
was down 3.7% to $20,821 in recent trade, while Ethereum’s Ether token
ETHUSD,
-5.56%
was down 5.9% at $1,600. Other popular cryptocurrencies, including Cardano
ADAUSD,
-0.50%,
and Solana
SOLUSD,
-5.40%,
also saw prices decline. The main U.S. stock benchmarks were also in the red, with the S&P 500
SPX,
-3.37%
down 2%, the Dow Jones Industrial Average
DJIA,
-3.03%
down 1.7% and the Nasdaq Composite
COMP,
-3.94%
down 2.5%.