The Philadelphia Semiconductor Index increased by 2.2%.

Data: If ETH drops below $2,221, the total long liquidation strength on major CEXs will reach $850 million.

Bostick: If interest rates are cut, inflation is highly unlikely to drop to 2%. He explained that the current inflation rate is driven by factors that are not easily reversed by monetary policy alone, and that a significant reduction to 2% would require a much more aggressive approach or a change in underlying economic conditions. Therefore, policymakers should be cautious about expecting a quick decline in inflation just through lowering interest rates.