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MARKET RECAP – DECEMBER 9, 2024

Written By: Jenny Galeano Gamboa

December 9, 2024

STOCK MARKET

Dow Jones ended at $44,401.93 (-0.54%)

S&P 500 ended at $6,052.85 (-0.61%)

Nasdaq Composite ended at $19,736.69 (-0.62%)

The stock market began the week with losses across all major indexes due to tech shares struggling, including Nvidia sliding after a Chinese regulator announced an investigation into potential antimonopoly violations. Additionally, Advanced Micro Devices saw a decrease after being downgraded by Bank of America, and tech giants like Meta Platforms and Netflix also struggled. As a result of these developments, the Nasdaq Composite and the S&P 500 slid down, while the Dow Jones Industrial Average also joined the downward trend. Moreover, it seems like investors are moving away from risk-taking, nevertheless, it is important to remark that despite this, analysts believe the market will continue to advance through year-end, with the November consumer price index expected to show slight upticks in pricing pressures.

CRYPTO MARKET

Bitcoin fell by 4.59% for the day, with a value of $95,357.33 as of 3:00 PM CST, as stated by Coin Metrics.

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