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, -4.42% was down 3.7% to $20,821 in recent trade, while Ethereum’s Ether token ETHUSD, -8.83% was down 5.9% at $1,600. Other popular cryptocurrencies, including Cardano ADAUSD, -6.26%, and Solana SOLUSD, -8.38%, also saw prices decline. The main U.S. stock benchmarks were also in the red, with the S&P 500 SPX, -2.77% down 2%, the Dow Jones Industrial Average DJIA, -2.41% down 1.7% and the Nasdaq Composite COMP, -3.33% down 2.5%.