The U.S. stock market reacted positively to inflation data and expectations of a change in interest rates by the Federal Reserve.
The technology sector, particularly major tech stocks like Alphabet, saw significant gains, leading to a surge in the Nasdaq Composite.
The rise in Bitcoin prices reflects growing interest in cryptocurrencies as a hedge against inflation and economic uncertainty.
The latest Consumer Price Index (CPI) report showed a marginal increase in consumer prices, meeting economists' expectations.
This data is likely to influence the Federal Reserve's decision on interest rates.
International developments, such as China considering a devaluation of its currency, also impacted global stock markets and boosted the U.S. dollar.
Macy's stock showed signs of recovery after a decline caused by lowered profit guidance and concerns about corporate governance.
The interplay between traditional finance and the crypto market is becoming more pronounced, with cryptocurrencies influencing broader market trends and investor strategies.