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MARKET RECAP – OCTOBER 12, 2023

Written By: Jenny Galeano Gamboa

October 12, 2023

STOCK MARKET

Dow Jones ended at $33,631.14 (-0.51%)

S&P 500 ended at $4,349.61 (-0.62%)

Nasdaq Composite ended at $13,574.22 (-0.63%)

The stock market experienced losses across all major indexes due to rising Treasury yields and concerns about persistent U.S. inflation. The benchmark 10-year Treasury rate increased significantly once again, which rattled the stock market. Some investors believe that higher yields are here to stay, leading to a downturn in the equity market. The release of new inflation data also contributed to the losses in the stock market. The consumer price index showed a higher-than-expected increase, causing concerns among investors. Additionally, the ongoing Israel-Hamas war raised questions about potential oil supply disruptions and a resulting increase in fuel prices. As a result, the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite all decreased.

CRYPTO MARKET

Bitcoin fell by 0.13% with a value of $26,699.29 as of 3:00 PM CST, as stated by Coin Metrics.

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