Cryptos Looking Beyond Regulatory Scrutiny

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As investors absorbed Federal Reserve statements indicating more interest rate rises, global stock indices sank, and the US dollar climbed on Friday.

US equities had their worst week since March amid concerns that central banks may have to raise interest rates to curb inflation.

Bets that excessive tightening will cause abrupt economic downturns boosted bonds.

"The Bank of England showed that central banks will not be shy to tighten more if disinflationary dynamics don't materialize. A reaction function more geared to current data than to being forward-looking biases yield curves flatter - until something breaks," said Antoine Bouvet, head of European rates strategy at ING.

Investors grabbed gains from the year's successful technology stocks, sending the S&P 500 index 1.4% down and the Nasdaq 1.3% lower. The Nasdaq lost its weekly winning run of eight weeks as other major US market indices also fell. The S&P 500 index lost its winning run of five weeks.