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MARKET RECAP – SEPTEMBER 22, 2023

STOCK MARKET

Dow Jones ended at $33,963.84 (-0.31%)

S&P 500 ended at $4,320.06 (-0.23%)

Nasdaq Composite ended at $13,211.81 (-0.09%)

The stock market ended the week with losses across all major indexes as investors investors reacted to a signal from the Federal Reserve indicating their intent to maintain higher interest rates for a longer period. This raised concerns among investors about the impact of higher rates on various risk assets and the broader economy. As a result, the Dow Jones Industrial, the S&P 500 and the Nasdaq Composite all decreased, with the S&P 500 and the Nasdaq experiencing their worst weekly performance since March. Moreover, the recent increase in bonds, which reached levels not seen since 2006 and 2007, combined with the  potential government shutdown added to the negative sentiment in the market.

CRYPTO MARKET

Bitcoin fell by 0.21% with a value of $26,537.01 as of 3:00 PM CST, as stated by Coin Metrics.

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