#MarketTurbulence The reasons and news that triggered today's sudden drop at the following times:

📢 9:30 AM New York time (4:30 PM Jordan time)

A statement from the Chairman of the U.S. Federal Reserve, Jerome Powell, that interest rate cuts may be delayed due to ongoing inflation above the target, and that the U.S. economy is still strong.

➡ This led investors to anticipate continued tightening of monetary policy, and thus sell high-risk assets such as cryptocurrencies.

💵 Movement of the U.S. Dollar Index (DXY)

After the Fed's statements, the dollar index rose sharply, which usually puts pressure on the crypto market as it reduces the attractiveness of investing in it.

📊 Negative economic data for China

It was announced that Chinese industrial production growth fell more than expected, causing global concern about demand and emerging markets.