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MARKET RECAP – NOVEMBER 21, 2023

STOCK MARKET

Dow Jones ended at $35,088.29 (-0.18%)

S&P 500 ended at $4,538.19 (-0.20%)

Nasdaq Composite ended at $14,199.98 (-0.59%)

The stock market witnesses losses across all major indexes for the first time in 6 days due to concerns surrounding inflation and interest rates. Based on the latest Federal Reserve meeting minutes, the the Fed indicated that it would maintain a “restrictive” policy stance to address potential inflation, and this lack of indication for rate cuts, combined with concerns about inflation, influenced traders and investors, resulting in negative market sentiment and downward movements in the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite. Furthermore, slower housing sales in October and weaker-than-expected outlooks from companies such as Lowe’s, American Eagle, and Amazon added to the overall downward trend in the stock market.

CRYPTO MARKET

Bitcoin fell by 1.53% for the day, with a value of $36,956.05 as of 3:00 PM CST, as stated by Coin Metrics.

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