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MARKET RECAP – JUNE 21, 2024

STOCK MARKET

Dow Jones ended at $39,150.33 (+0.04%)

S&P 500 ended at $5,464.62 (-0.16%)

Nasdaq Composite ended at $17,689.36 (-0.18%)

The stock market ended the week with mixed performances primarily due to the influential decline of the major player in the technology sector, Nvidia, which dragged down the S&P 500 and Nasdaq Composite. Meanwhile, the Dow Jones Industrial Average still manage to stay on the positive side, although it remained almost unchanged. Moreover, it is worth noting that despite Nvidia’s recent drop after hitting an all-time high and closing over 3% lower, it remains significantly up year to date, which highlights concerns of an overextended market. Additionally, market volatility was heightened by the occurrence of triple witching, which involves the simultaneous expiration of stock options, stock index options, and stock index futures options, further contributing to the varied outcomes across major indices.

CRYPTO MARKET

Bitcoin fell by 1.01% for the day, with a value of $64,239.00 as of 3:00 PM CST, as stated by Coin Metrics.

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