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Here's Why Cryptocurrencies Are Falling Despite Great News

It's hard to imagine a larger catalyst for cryptocurrencies than the one on March 6, when the White House issued an executive order that the U.S. would be forming both a Strategic Bitcoin Reserve and a national Digital Asset Stockpile. And yet in the wake of that ultra-bullish announcement, the prices of major cryptos including Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), Solana (CRYPTO: SOL), XRP (CRYPTO: XRP), and Cardano (CRYPTO: ADA) are all down, and substantially in most cases. Under the plan for the Strategic Bitcoin Reserve and the Digital Asset Stockpile, the government will not be buying any of the cryptocurrencies mentioned above, at least not in a way that involves spending from the nation's budget.

BOJ Is Said to See Good Reasons to Oppose Bond Market Action

(Bloomberg) -- Bank of Japan officials see several reasons against intervening in the bond market even after benchmark yields hit the highest level since 2008, according to people familiar with the matter, elaborating on the thinking behind recent remarks from Governor Kazuo Ueda.Most Read from BloombergTrump DEI Purge Hits Affordable Housing GroupsNYC Congestion Pricing Toll Gains Support Among City ResidentsElectric Construction Equipment Promises a Quiet RevolutionOpen Philanthropy Launches $

S&P 500, Nasdaq gain on cooling inflation; tariffs stoke slowdown fears

The benchmark S&P 500 and the Nasdaq rose on Wednesday following data that showed slowing U.S. inflation, although concerns about the economic fallout of President Donald Trump's trade policies persisted. A Labor Department report showed consumer prices increased less than expected in February, but the improvement is likely to be temporary, given the backdrop of aggressive import tariffs. "This (CPI) is good news on the inflation front but obviously, with the imposition of tariffs, we still don't know where the real direction of inflation is at this time," said Peter Cardillo, chief market economist at Spartan Capital Securities.