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The SPX index is down 0.34%. This market activity followed Powell's indication that a rate hike in June is unlikely and the central bank's continued concern over high inflation. Powell stated that a rate decrease would only be considered once there is greater confidence in achieving a sustainable 2% inflation rate. The broader cryptocurrency market is down, with Bitcoin and Ether dropping by 3.70% and 0.79%, respectively, in the past 24 hours.