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MARKET RECAP – APRIL 1, 2024

Written By: Jenny Galeano Gamboa

April 1, 2024

STOCK MARKET

Dow Jones ended at $39,566.85 (-0.60%)

S&P 500 ended at $5,243.77 (-0.20%)

Nasdaq Composite ended at $16,396.83 (+0.11%)

The stock market began the second quarter of 2024 with mixed performances due to traders weighing fresh U.S. inflation data amid fears that the market rally could slow down. Federal Reserve Chair Jerome Powell’s comments about the economy remaining strong and inflation being above target led to investors being cautious about the pace of the Federal Reserve’s rate-cutting timeline. Additionally, Treasury yields rose as investors considered Powell’s remarks and a key inflation reading. The market had experienced a winning first quarter and a winning March, but the decline at the start of the second quarter indicated that the market may be overbought and in need of a correction. As a result, the Dow Jones Industrial Average and the S&P 500 fell, while the Nasdaq Composite managed to increase slightly due to possible optimism in technology companies.

CRYPTO MARKET

Bitcoin fell by 1.95% for the day, with a value of $69,628.00 as of 3:00 PM CST, as stated by Coin Metrics.

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