STOCK MARKET
Dow Jones ended at $38,111.48 (-0.86%)
S&P 500 ended at $5,235.48 (-0.60%)
Nasdaq Composite ended at $16,737.08 (-1.08%)
The stock market witnessed losses across all major indexes for a second day in a row due to Salesforce plunging nearly 20% after missing revenue expectations and providing a weak outlook, marking the company’s worst day in two decades. This, combined with Nvidia’s decline and an uptick in the 10-year Treasury yield, which can reduce the willingness of traders to pay for equities and make safer investments more attractive, contributed to the negative sentiment. Uncertainty around consumer spending and interest rates added to the market’s choppiness, with investors advised to expect continued volatility. Thus, as a result of these developments, the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite all decreased. Nonetheless, despite the recent losses, the indexes are on track to end the month higher, but questions surrounding inflation and interest rates remain a concern among investors.
CRYPTO MARKET
Bitcoin rose by 1.86% for the day, with a value of $68,625.98 as of 3:00 PM CST, as stated by Coin Metrics.
