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MARKET RECAP – SEPTEMBER 12, 2023

STOCK MARKET

Dow Jones ended at $34,646.99 (-0.05%)

S&P 500 ended at $4,461.90 (-0.57%)

Nasdaq Composite ended at $13,773.52 (-1.04%)

The stock market experienced losses across all major indexes, with the Nasdaq Composite and the S&P 500 falling following the disappointing results from Oracle, one of the tech industry’s major players. In addition, the unveiling of a new iPhone model by Apple also contributed to the losses, as investor response was lackluster. The Dow Jones Industrial Average also joined the falling trend, but it remained almost unchanged. Moreover, investors were cautious ahead of key inflation data and the interest rate decision by the European Central Bank later in the week, leading to increased selling. Lastly, the rise in crude oil prices, while benefiting energy stocks, raised concerns about costs and potential inflationary pressures.

CRYPTO MARKET

Bitcoin rose by 4.10% with a value of $26,086.00 as of 3:00 PM CST, as stated by Coin Metrics.

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