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MARKET RECAP – FEBRUARY 20, 2024

Written By: Jenny Galeano Gamboa

February 20, 2024

STOCK MARKET

Dow Jones ended at $38,563.80 (-0.17%)

S&P 500 ended at $4,975.51 (-0.60%)

Nasdaq Composite ended at $15,630.78 (-0.92%)

Stocks began the trading week with losses across all major indexes as a result of a broader tech decline led by Nvidia ahead of the chipmaker’s earnings report. Consequently, the Dow Jones Industrial Average, the Nasdaq Composite, and the S&P 500 fell. Concerns about the high valuation of tech stocks, as well as waiting for earnings to come in better-than-anticipated, contributed to the decline in the tech sector. Financial stocks were also in view following a major announcement of a large acquisition deal, while concerns about the Federal Reserve’s interest rate policies continued to impact market sentiment.

CRYPTO MARKET

Bitcoin rose by 0.27% for the day, with a value of $52,006.16 as of 3:00 PM CST, as stated by Coin Metrics.

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