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MARKET RECAP – AUGUST 28, 2024

STOCK MARKET

Dow Jones ended at $41,091.42 (-0.39%)

S&P 500 ended at $5,592.18 (-0.60%)

Nasdaq Composite ended at $17,556.03 (-1.12%)

The stock market witnessed losses across all major indexes, including the S&P 500 and Nasdaq Composite, as Nvidia tumbled before earnings. Investors were concerned about the chipmaker’s latest earnings report and its impact on the broader tech and artificial intelligence trade. Nvidia, which has surged more than 150% in 2024, fell by 2.1%, contributing to the overall decline in the information technology sector. Other technology stocks, including Amazon, Alphabet, and Microsoft, also saw losses. Furthermore, Super Micro Computer plummeted 19% after announcing it would not file its annual report on time.

CRYPTO MARKET

Bitcoin fell by 5.02% for the day, with a value of $58,930.50 as of 3:00 PM CST, as stated by Coin Metrics.

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