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MARKET RECAP – APRIL 17, 2024

STOCK MARKET

Dow Jones ended at $37,753.31 (-0.12%)

S&P 500 ended at $5,022.21 (-0.58%)

Nasdaq Composite ended at $15,683.37 (-1.15%)

The stock market witnessed losses across all major indexes due to struggling technology names, particularly Nvidia, putting downward pressure on the market. Tech stocks, including big names like Netflix, Meta, Apple, and Microsoft, all fell, leading to the S&P 500 and Nasdaq Composite closing lower for a fourth straight day. Additionally, investors were seen “trimming some of the high fliers,” contributing to the overall negative performance of the market. Furthermore, although the Dow Jones Industrial Average managed to report some gains yesterday, it experienced a retreat and joined the other two indexes in the downward trend. Moreover, it is worth noting that despite a strong start to the earnings season with many companies surpassing expectations, the market still experienced a significant downturn, with the Dow, S&P 500, and Nasdaq all posting multiple consecutive down sessions. Thus, this recent weakness in the market marks a departure from the strong gains seen earlier in the year, causing caution among investors and analysts.

CRYPTO MARKET

Bitcoin fell by 2.78% for the day, with a value of $61,065.10 as of 3:00 PM CST, as stated by Coin Metrics.

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