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MARKET RECAP – APRIL 12, 2024

STOCK MARKET

Dow Jones ended at $37,983.24 (-1.24%)

S&P 500 ended at $5,123.41 (-1.46%)

Nasdaq Composite ended at $16,175.09 (-1.62%)

The stock market ended the week with losses across all major indexes as inflation and geopolitical worries, along with a decline in major bank shares, dented investor sentiment on Wall Street. Weaker-than-expected performances from banks like JPMorgan Chase, Wells Fargo, and Citigroup also contributed to the negative sentiment. Additionally, concerns about rising oil prices and potential conflict in the Middle East added fuel to inflation concerns. The combination of these factors, coupled with a lower-than-expected consumer sentiment index for April reflecting growing inflation expectations, resulted in significant sell-offs and declines in the Dow Jones Industrial Average, the S&P 500, and the Nasdaq Composite.


CRYPTO MARKET

Bitcoin fell by 5.11% for the day, with a value of $66,753.28 as of 3:00 PM CST, as stated by Coin Metrics.

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