$BTC $ETH Global Markets Plunge! "Black Friday" is here, and a single sentence from the Fed extinguishes hopes for a rate cut! On November 14th, global markets were completely wiped out—hawkish comments from Federal Reserve officials dashed hopes for a December rate cut. Coupled with a plethora of unclear and confusing data, and concerns that the AI hype was a bubble, global stock and precious metal markets were utterly crushed on Friday. Whether it was the Tokyo stock market or leading stocks in Paris and London, all suffered devastating losses. The UK fared even worse, facing new concerns about the upcoming budget in addition to the aforementioned problems, further exacerbating the market's woes. The US stock market fared no better; stock index futures indicated an immediate drop at the open, even after a significant decline the previous day (Thursday). Jeremy Streich, head of foreign exchange strategy at CIBC Markets, said, "Now everyone feels the probability of a December rate cut is back to 50/50, and coupled with concerns about the bursting of the AI bubble, market sentiment is completely chaotic. The market was already volatile this month, and now it's even more unstable." To make matters worse, the White House poured cold water on the situation—everyone was hoping for a clearer picture of the US economy, but the White House said that October's unemployment data might never be available. This makes everyone even more convinced that the Federal Reserve will continue to drag its feet, waiting for more definitive information before taking action. #CryptoMarketCorrection #FederalReserve