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MARKET RECAP – NOVEMBER 9, 2023

Written By: Jenny Galeano Gamboa

November 9, 2023

STOCK MARKET

Dow Jones ended at $33,891.94 (-0.65%)

S&P 500 ended at $4,347.35 (-0.81%)

Nasdaq Composite ended at $13,521.45 (+0.94%)

The stock market faced losses across major indexes, with the S&P 500 and the Nasdaq Composite retreating from the positive trend they had experienced in the las eight sessions, due to a significant rise in yields. The S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average all suffered drops, hitting session lows following Federal Reserve Chair Jerome Powell’s comments on the need for additional measures to counter inflation. Additionally, interest rates experienced volatility. Moreover, despite the better-than-expected profit reported by Disney, the latest earnings reports were not all positive as other companies like  Arm and MGM Resorts saw declines. This contrasted with previous positive sessions, signaling market turbulence.

CRYPTO MARKET

Bitcoin rose by 2.64% for the day, with a value of $35,563.76 as of 3:00 PM CST, as stated by Coin Metrics.

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