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MARKET RECAP – FEBRUARY 23, 2024

STOCK MARKET

Dow Jones ended at $39,131.56 (+0.16%)

S&P 500 ended at $5,088.80 (+0.03%)

Nasdaq Composite ended at $15,996.82 (-0.28%)

The stock market ended the week with mixed performances as the S&P 500 and Dow Jones Industrial Average reached all-time highs, signaling a bullish sentiment among investors. However, the Nasdaq Composite experienced a decrease, raising concerns about the rapid surge in the market, particularly in the technology sector. This has led some analysts and investment strategists to advise caution, noting that chasing such rapid momentum may not be advisable given the extensive gains made in a short period. Furthermore, the sustainability of these upward trends was called into question, particularly as much of the market’s gains were attributed to technology stocks, which could pose potential risks if the momentum in this sector were to shift.

CRYPTO MARKET

Bitcoin fell by 1.53% for the day, with a value of $51,075.95 as of 3:00 PM CST, as stated by Coin Metrics.

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