STOCK MARKET

Dow Jones ended at $41,503.10 (-0.25%)

S&P 500 ended at $5,618.26 (-0.29%)

Nasdaq Composite ended at $17,573.30 (-0.31%)

The stock market witnessed losses across all major indexes because the Federal Reserve made a larger than expected interest rate cut, causing concerns about potential economic weakness. Traders initially cheered the rate cut, but then became worried that the Fed was trying to get ahead of economic problems. Additionally, despite Fed Chair Jerome Powell’s reassurances that the economy was not in trouble, stocks still declined, possibly due to profit-taking after a significant rally leading up to the rate cut. Overall, the market volatility and uncertainty surrounding the rate cut led the losses experienced by the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite.

CRYPTO MARKET

Bitcoin fell by 0.21% for the day, with a value of $60,056.03 as of 3:00 PM CST, as stated by Coin Metrics.