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Risk assets have tumbled as markets dialed back expectations for a Fed rate cut in December.
Fed funds futures now place the odds of a 25-basis point US rate cut at a coin toss (50-50), drastically lower than the 93% chance accorded a month ago (Oct 14), as Fed officials publicly sought to cool such expectations.
The S&P 500 fell 1.66% on Thursday, with futures still dipping at the time of writing.
The CoinDesk 20 Index, which measures the performance of top digital assets, is down over 4%.
Gold was not spared as it fell 0.6% Thursday, though its safe haven allure likely limited the drop.
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