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MARKET RECAP – NOVEMBER 14, 2024

Written By: Jenny Galeano Gamboa

November 14, 2024

STOCK MARKET

Dow Jones ended at $43,750.86 (-0.47%)

S&P 500 ended at $5,949.17 (-0.60%)

Nasdaq Composite ended at $19,107.65 (-0.64%)

The stock market experienced losses across all major indexes, and this was primarily due to fresh comments from Federal Reserve Chair Jerome Powell signaling caution on rate cuts. Powell stated that the central bank did not need to rush to slash rates, and as a result, there was a decline in odds for a rate cut at the upcoming December meeting. This led to selling pressure across the Dow Jones Industrial Average, the S&P 500 and the Nasdaq. Additionally, the cooling off of the market rally, particularly in “Trump Trades,” added to the declines. Furthermore, it is worth noting that currently, there is uncertainty among investors about the sustainability of the post-election rally.

CRYPTO MARKET

Bitcoin fell by 3.23% for the day, with a value of $87,638.30 as of 3:00 PM CST, as stated by Coin Metrics.

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