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MARKET RECAP – OCTOBER 10, 2024

Written By: Jenny Galeano Gamboa

October 10, 2024

STOCK MARKET

Dow Jones ended at $42,454.12 (-0.14%)

S&P 500 ended at $5,780.05 (-0.21%)

Nasdaq Composite ended at $18,282.05 (-0.05%)

The stock market experienced a turnaround in performance as economic data pointed to stubborn inflation, causing the S&P 500 and Dow Jones Industrial Average to retreat from record highs, while the Nasdaq Compositealso fell. The consumer price index rose more than expected, leading to concerns about the Federal Reserve slowing the pace of future rate cuts. This uncertainty and the potential for a pause in rate cuts has led to selling off of small and mid-cap stocks that are more rate sensitive.

CRYPTO MARKET

Bitcoin fell by 2.11% for the day, with a value of $59,714.77 as of 3:00 PM CST, as stated by Coin Metrics.

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