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MARKET RECAP – SEPTEMBER 3, 2024

Written By: Jenny Galeano Gamboa

September 3, 2024

STOCK MARKET

Dow Jones ended at $40,936.93 (-1.51%)

S&P 500 ended at $5,528.93 (-2.12%)

Nasdaq Composite ended at $17,136.30 (-3.26%)

The stock market witnessed losses across all major indexes for the first trading session of the month due to several factors. Firstly, technology stocks struggled, with high-flying companies like Nvidia seeing significant declines. Additionally, new economic data, specifically readings on manufacturing production, showed signs of weakness, sparking concerns about slowing growth in the U.S. economy. Following these developments, the Dow Jones Industrial Average, the S&P 500, and the Nasdaq Composite all fell significantly, with the latter falling by over 3%. Moreover, investors have become increasingly sensitive to economic data, leading to jumpy reactions in the market.

CRYPTO MARKET

Bitcoin fell by 0.70% for the day, with a value of $58,050.70 as of 3:00 PM CST, as stated by Coin Metrics.

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