India, April 4 -- Cryptocurrencies declined on Friday despite renewed rate cut expectations from the Fed, triggered by weak economic data from the U.S. Turbulence created by the trade tariffs unveiled by the U.S. and responses from trade partners as well as anxiety ahead of the monthly jobs data due from the U.S. weighed on sentiment.
Data released by the Institute for Supply Management on Thursday showed the ISM Services PMI falling sharply to 50.8 in March from 53.5 in February and way below forecasts of 53. The reading revealed the softest expansion in the services sector since June of last year.
U.S. President Trump had announced sweeping tariffs on trade partners on Wednesday causing turmoil in global markets.
In data to be released...