STOCK MARKET
Dow Jones ended at $42,326.87 (-2.58%)
S&P 500 ended at $5,872.16 (-2.95%)
Nasdaq Composite ended at $19,392.69 (-3.56%)
The stock market experienced significant losses across all major indexes, including the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite, primarily due to a less aggressive rate outlook by the Federal Reserve. The Fed’s decision to only cut rates twice in 2025, contrary to traders’ expectations of more stimulus, contributed to a sell-off as investors reacted negatively to the news. The increase in Treasury yields following the Fed’s announcement further added pressure on share prices. Additionally, concerns about future inflation and unemployment levels, as indicated by TradeStation’s David Russell, exacerbated the market’s negative sentiment. The Dow’s transition from old economy shares to technology stocks also influenced the market decline.
CRYPTO MARKET
Bitcoin fell by 5.60% for the day, with a value of $100,666.19 as of 3:00 PM CST, as stated by Coin Metrics.
