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April 16: Market Summary

April selloff

Apr 16, 2024

Good afternoon.

Markets fall, the stock market is having a rough April, and the Bitcoin halving is this week.

Let's dive in.


Here are today's market moves:

What's Happening

  • U.S. stocks fell after Fed Chair Powell warned that rate cuts will come later than expected.

  • The stock market is having a rough month, with the S&P 500 down 3.86%:

  • Why markets are falling: Inflation has been hotter-than-expected this year, weakening the case for rate cuts.

  • The crypto market slipped this month, with Bitcoin down 10%. The Bitcoin halving is expected this week.

Catch Up

  1. Tesla is laying off more than 10% of its global workforce.

  2. Fed Chair Powell says there's been a "lack of progress" on inflation this year.

  3. The price of gold has soared to a record high this month.

What Else?