Markets
Here are today’s market moves:
S&P 500 down 0.29% to 4,115.68
Dow Jones down 0.48% to 33,896.04
Nasdaq down 0.029% to 13,299.74
Bitcoin: $37,561
US10Y: 1.673%
What Happened?
The S&P 500 and Dow Jones fell on Wednesday as the Federal Reserve signaled an eventual shift away from its easy-money policies.
The crypto market also took a beating. Bitcoin fell to as low as $29,600 and Ether to as low as $1,840, wiping out many traders buying on margin.
Risk appetite has fallen in the past few weeks as investors worry about the risk of rising inflation.
Your friend who bought Doge during SNL weekend is now down more than 50% on their investment.
Fed officials say that the economy still requires stimulus, but that the central bank is closely watching how things develop and will be ready to change its policy when necessary.
What Else?
This Week
Monday: Tax Day. Earnings expected from Fisker and Purple.
Tuesday: Earnings expected from Home Depot, Macy’s, and Walmart.
Wednesday: Earnings expected from Cisco, Lowe’s, and Target.
Thursday: Earnings expected from Kohl’s, Ross, Tencent, and L Brands; Oatly IPO; Weekly jobless claims.
Friday: Earnings expected from Foot Locket and John Deere.