By Rae Wee

SINGAPORE (Reuters) -Cryptocurrencies were caught in a broad flight from risk assets on Friday, sending bitcoin and ether to multi-month lows as worries persisted about lofty tech valuations and bets on near-term Federal Reserve policy easing faded.

Bitcoin, the world’s largest cryptocurrency, fell 2.1%, breaking below $86,000 to hit a seven-month trough of $85,350.75 in Asian trading. Ether also slid more than 2% to its lowest in four months at $2,777.39.

Both tokens were staring at weekly losses of roughly 8%.

Cryptocurrencies are often used by investors as a barometer of risk appetite and the sharp slide shows how fragile the mood in the market has turned in recent days, with high-flying artificial intelligence stocks tumbling and volatility spiking.

“If it’s telling a s

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