STOCK MARKET
Dow Jones ended at $40,347.97 (-1.21%)
S&P 500 ended at $5,446.68 (-1.37%)
Nasdaq Composite ended at $17,194.15 (-2.30%)
The stock market experienced significant losses across all major indexes due to fears of a possible recession and concerns that the Federal Reserve may have waited too long to start cutting interest rates. Weak economic data, including a rise in initial jobless claims and poor results from the ISM manufacturing index, contributed to these fears. As a result, the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite all reported big losses, with the latter falling by over 2%. Stocks that would be most impacted by a recession, such as JPMorgan Chase and Boeing, were among the biggest losers. Additionally, tech stocks like Meta Platforms and Nvidia also suffered losses as investors may be preparing for increased market volatility leading up to the November election.
CRYPTO MARKET
Bitcoin fell by 3.40% for the day, with a value of $63,365.62 as of 3:00 PM CST, as stated by Coin Metrics.
