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MARKET RECAP – NOVEMBER 12, 2024

Written By: Jenny Galeano Gamboa

November 12, 2024

STOCK MARKET

Dow Jones ended at $43,910.98 (-0.86%)

S&P 500 ended at $5,983.99 (-0.29%)

Nasdaq Composite ended at $19,281.40 (-0.09%)

The stock market witnessed losses across all major indexes as investors took a breather from the postelection rally. Market participants may have already priced in the benefits of a Trump victory, leading to a pullback in the Dow Jones Industrial Average, the S&P 500 and Nasdaq Composite. Notably, key components of the so-called Trump trade, such as small-cap stocks and shares of companies that have seen significant gains since the election, were among the notable losers during today’s trading session. Additionally, concerns about debt and deficits, as well as upcoming inflation readings and a recent interest rate cut by the Federal Reserve, contributed to the market’s decline.

CRYPTO MARKET

Bitcoin rose by 1.00% for the day, with a value of $89,506.33 as of 3:00 PM CST, as stated by Coin Metrics.

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