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MARKET RECAP – FEBRUARY 21, 2024

STOCK MARKET

Dow Jones ended at $38,612.24 (+0.13%)

S&P 500 ended at $4,981.80 (+0.13%)

Nasdaq Composite ended at $15,580.87 (-0.32%)

The stock market experienced mixed performances with the Dow Jones Industrial Average and the S&P 500 increasing, while the Nasdaq Composite decreased, as traders awaited Nvidia’s earnings report and reacted to the Federal Reserve’s stance on interest rates. Concerns about Nvidia’s high valuation and potential disappointment with its earnings led to a decline in the company’s stock and, in turn, the Nasdaq Composite. Additionally, uncertainty surrounding interest rate cuts, as indicated by the Federal Reserve’s reticence to immediately reduce rates, contributed to market unease, particularly for investors hoping for rate cuts to stimulate economic growth.

CRYPTO MARKET

Bitcoin fell by 2.15% for the day, with a value of $50,992.87 as of 3:00 PM CST, as stated by Coin Metrics.

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