Weekly Market Recap August 30, 2024
This week, the U.S. stock market experienced volatility. The S&P 500 ended slightly down by 0.5%, pausing after several weeks of gains, while the Dow Jones Industrial Average remained virtually flat.
The Nasdaq Composite fell by 0.7% due to profit-taking in tech stocks and broader concerns about growth. Mid-week declines were influenced by rising 10-year Treasury yields, which hit their highest level since 2007.
However, the market saw some recovery following Fed Chair Jerome Powell’s speech on Friday, which highlighted ongoing progress in managing inflation.
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