STOCK MARKET
Dow Jones ended at $43,444.99 (-0.70%)
S&P 500 ended at $5,870.62 (-1.32%)
Nasdaq Composite ended at $18,680.12 (-2.24%)
The stock market ended the week on a downward trend as the postelection rally fizzled, leading to sharp weekly losses for major averages, with the Dow Jones Industrial Average, the S&P 500, and the Nasdaq Composite all closing lower. Declines in pharmaceutical stocks, weakness in the information technology sector, and comments from Federal Reserve Chairman Jerome Powell that the central bank was not rushing to cut interest rates all contributed to the negative sentiment in the market. Additionally, uncertainty surrounding potential policy shifts under the new administration and cautious comments from Boston Fed President Susan Collins added to investor concerns. Moreover, the week’s economic data, including October retail sales showing a slight increase, also influenced market direction.
CRYPTO MARKET
Bitcoin rose by 3.79% for the day, with a value of $91,382.72 as of 3:00 PM CST, as stated by Coin Metrics.
