Why Is Crypto and the Stock Market Dumping Today? Key Reasons

Crypto is sliding alongside broader risk assets after renewed uncertainty around the Federal Reserve and a delay to U.S. digital-asset rulemaking. Over the past 24 hours, the crypto market fell 2.8% to $2.24 trillion. Bitcoin dropped about 2.7% to $63,400, while Ethereum slid more than 3.2% to $1,874. The selloff is also hitting equities: South Korea’s KOSPI plunged 10% and Nvidia shares fell roughly 5%. Key drivers cited include rising odds of a 25-basis-point Fed hike before the upcoming FOMC meeting (around 37%) and pressure on AI/chip stocks, plus the Senate postponing work on the CLARITY Act.