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MARKET RECAP – SEPTEMBER 15, 2023

STOCK MARKET

Dow Jones ended at $34,618.24 (-0.83%)

S&P 500 ended at $4,450.32 (-1.22%)

Nasdaq Composite ended at $13,708.34 (-1.56%)

The stock market ended the week on a negative note as all major indexes experienced losses. Uncertainty surrounding the Federal Reserve’s upcoming policy meeting, mixed economic data, sector-specific challenges, and company-specific developments played a significant role in this market downturn. Investors grew cautious as they eagerly awaited insights into the central bank’s plans for inflation and interest rates, while conflicting economic indicators added to the unease. Consequently, the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite all decreased, with the last two indexes experiencing significant losses as the technology sector, particularly information technology stocks, underperformed, dragging down both indexes. Moreover, negative news surrounding specific stocks, such as Adobe, also weighed on investor sentiment.

CRYPTO MARKET

Bitcoin fell by 0.88% with a value of $26,413.48 as of 3:00 PM CST, as stated by Coin Metrics.

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