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MARKET RECAP – MARCH 20, 2024

Written By: Jenny Galeano Gamboa

March 20, 2024

STOCK MARKET

Dow Jones ended at $39,512.13

S&P 500 ended at $5,224.62 (+0.89%)

Nasdaq Composite ended at $16,369.41 (+1.25%)

The stock market witnessed gains across all major indexes for a third consecutive day as the Federal Reserve held rates at a 23-year high and maintained expectations for three cuts before the end of 2024. This decision reassured investors and boosted market confidence, leading to a rally in stocks. The S&P 500 reached a new high above 5,200, while the Nasdaq Composite and Dow Jones Industrial Average also saw significant gains. Financial stocks rose on the hope that rate cuts would support economic growth, while technology stocks, particularly megacap companies, also surged as investors anticipated benefits from lower rates.

CRYPTO MARKET

Bitcoin rose by 1.71% for the day, with a value of $65,790.56 as of 3:00 PM CST, as stated by Coin Metrics.

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