STOCK MARKET
Dow Jones ended at $40,665.02 (-1.29%)
S&P 500 ended at $5,544.59 (-0.78%)
Nasdaq Composite ended at $17,871.22 (-0.70%)
The stock market witnessed losses across all major indexes as investors continued to cut off positions in high-flying technology names and take profits on recent runs elsewhere. The growing likelihood of a September interest rate cut from the Federal Reserve has bolstered optimism in the broader market, leading to a shift away from tech stocks towards small caps and more cyclical names. The sell-off witnessed today was broad, affecting all but one of the 11 sectors in the S&P 500 and more than two-thirds of Dow members. The Nasdaq Composite has been particularly hard hit, with a more than 4% drop in the last five trading days. Moreover, it is important to remark that despite the losses reported by the Dow, it was the only index tracking for week-to-date gains.
CRYPTO MARKET
Bitcoin fell by 1.81% for the day, with a value of $63,500.80 as of 3:00 PM CST, as stated by Coin Metrics.
