Fed funds futures raised the rate cut expectation for this year to 120 basis points.
S&P 500 futures started the week with a 4% drop and Nasdaq futures with a 5% drop.
Donald Trump commented on the declines in the markets, “Sometimes you need to take medicine”. After this statement, the losses in the markets deepened even more.
At the time of writing, Bitcoin (BTC) is trading at $76,748 and Ethereum (ETH) is trading at $1,538.
The fear and greed index is at the extreme fear level of “17”.
Important developments for the day:
