Crypto Market Stabilizes as Inflation Cools; BlockFi Halts Withdrawals in FTX Contagion
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US inflation fell more than the initial forecast in October, presenting some evidence that the economy has moved away from peak inflation, while giving the Federal Reserve some leeway to consider toning down rate hikes in coming months. The S&P 500 climbed 5.5%, registering the best daily performance in more than two years. The rally rippled across the Asian markets, with Asian equity benchmarks hitting the biggest gains since March.