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MARKET RECAP – AUGUST 17, 2023

Written By: Jenny Galeano Gamboa

August 17, 2023

STOCK MARKET

Dow Jones ended at $34,474.83 (-0.84%)

S&P 500 ended at $4,370.36 (-0.77%)

Nasdaq Composite ended at $13,316.93 (-1.17%)

The stock market experienced losses across all major indexes, with the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite all decreasing for a third day in a row. This happened as investors assessed the latest earnings reports and economic indicators, while interest rates reached new highs. Moreover, the market sentiment was negatively affected by the 10-year U.S. Treasury yield, which reached its highest level since October 2022 due to concerns of potential inflation risks expressed in the Federal Reserve’s July meeting minutes. Futhermore, although Walmart reported strong financial results in the second quarter, its stock decrease by more than 2%.

CRYPTO MARKET

Bitcoin fell by 4.29% with a value of $27,852.55 as of 3:00 PM CST, as stated by Coin Metrics.

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