"The Fed clearly needs to start hiking rates. Probably not shock therapy — definitely not shock therapy," Paul Krugman told Bloomberg.

"Just get on with it, let's do 50, the market's already discounted it," Yardeni told Bloomberg, referring to 0.5% rate hike at the March FOMC meeting.

JPMorgan strategists said now is the time to buy US equities as the markets have already priced in a more hawkish Federal Reserve.

The 35-page white paper was borne out of a joint initiative announced in 2020 that aimed to explore the feasibility of a digital currency in the US.

"I think there's more pain to come," he told CNBC. "I certainly wouldn't be surprised that the Nasdaq go into the bear market territory and the S&P."

Morgan Stanley called on investors to pivot their focus from the Fed's hawkish tone to a slowing economy as stocks retreat.

"There are bigger concerns right now in crypto," Chris Vecchio of DailyFX, said, citing a hawkish Fed, interest rate hikes, and rising inflation.

Consumer prices jumped 7% year-over-year last month, the highest rate of inflation since 1982 but in line with the median forecast.

"Things that performed the best since March 2020 are probably going to perform the worst as we go through this tightening cycle," Tudor told CNBC.

The US added 199,000 nonfarm payrolls last month, far lower than the 450,000 median estimate. Hiring faltered in December as Omicron cases surged.

The PCE index rose 5.7% in November, the highest since 1982. Weeks earlier, another core inflation index, CPE, had a similar 39-year jump.

The Nasdaq is poised to give up all its gains from earlier in the week, while the Dow Jones Industrial Average and the S&P 500 are on track to stay green.

They analyzed crypto activities banks may be interested in such as crypto custody, sales of cryptoassets, and holding these on their balance sheets.

Rising inflationary pressures are dragging stocks and bonds, which may prompt the Fed to hike interest rates earlier than expected, an expert said.

Positive results on Pfizer's COVID-19 pill also helped spark a broad rally among travel-related stocks, such as aviation, cruise lines and hotels.

The trend line for lumber prices will see a sustained 5% increase, folding in transportation and labor costs, Mace McCain of Frost Investment said.

The rising demand for goods and services will subside over time, said former Fed chair Alan Greenspan. It's the country's debt he is concerned about.