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MARKET RECAP – MARCH 14, 2024

STOCK MARKET

Dow Jones ended at $38,905.66 (-0.35%)

S&P 500 ended at $5,150.48 (-0.29%)

Nasdaq Composite ended at $16,128.53 (-0.30%)

The stock market experienced losses across all major indexes due to the release of the latest producer price index (PPI), which revealed a hotter-than-expected U.S. inflation data and led Treasury yields to rise. This raised concerns about the possibility of the Federal Reserve cutting rates sooner than expected. Consequenlty, the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite reported decreases. Furthermore, the increase in bond yields and the pressure on Nvidia shares further contributed to the market losses, nonetheless, it is worth noting that despite the overall market ending on the negative side, major technology shares like Apple and Microsoft saw buying interest today.

CRYPTO MARKET

Bitcoin fell by 5.36% for the day, with a value of $69,211.10 as of 3:00 PM CST, as stated by Coin Metrics.

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