Stocks Drop as Treasury Yields Stay High After Hawkish Fed Comments; Bitcoin Rises
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Wall Street indexes dropped on Friday as Treasury yields stayed high following hawkish Fed remarks.
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Atlanta and Philadelphia Fed presidents said inflation remains high but there are signs of economic slowdown.
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Mid-sized U.S. banks fell after earnings heightened concerns that Fed rate hikes are tapering off.
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SolarEdge shares sank 31% after warning of significantly lower Q4 revenue.
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Bitcoin and blockchain stocks rose, tracking higher cryptocurrency prices.
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