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MARKET RECAP – APRIL 4, 2024

Written By: Jenny Galeano Gamboa

April 4, 2024

STOCK MARKET

Dow Jones ended at $38,596.98 (-1.35%)

S&P 500 ended at $5,147.21 (-1.23%)

Nasdaq Composite ended at $16,049.08 (-1.40%)

The stock market witnessed losses across all major indexes as investors were on edge ahead of the March jobs report and fears of the Federal Reserve holding off on further interest rate cuts added to negative sentiment. Comments from Minneapolis Fed President Neel Kashkari questioning the need for further rate cuts also contributed to the market downturn. Additionally, a spike in oil prices raised concerns about inflation and energy price increases. Following these developments, the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite all reported losses of over 1%, while the 10-year Treasury yield rose, causing investors to adopt a wait-and-see approach.

CRYPTO MARKET

Bitcoin rose by 4.14% for the day, with a value of $68,603.99 as of 3:00 PM CST, as stated by Coin Metrics.

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