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MARKET RECAP – MARCH 23, 2023

Written By: Timmy

March 27, 2023

STOCK MARKET

Dow Jones ended at $38,574 (+0.28%)

S&P ended at $4,000 (+0.29%)

Nasdaq Composite ended at $52.49 (-0.85%)

As investors expect Federal Reserve to cease its rate-hiking soon, the stock market had some gains today S&P 500 went up by 0.29%, the Nasdaq Composite by 1%, and the Dow Jones Industrial Average by 0.23%. Before easing back down, there was a point in which the Dow Jones Industrial Average increased by as much as 481.38 points, and the overall market index and the Nasdaq increased by as much as 1.8% and 2.5% correspondingly.

CRYPTO MARKET

Bitcoin’s price shot up by over 4%, reaching a value of $28,290.71 as of 3:00 PM CDT, as stated by Coin Metrics.

The rise in cryptocurrency values can also be linked to optimistic expectations surrounding the Fed’s interest rate, as well as a decrease in nervousness among investors regarding the ongoing banking system crisis on Wall Street.

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