February 21: Market Summary

$720 billion wipeout

Good afternoon.

Markets slide, venture fundraising hits a nine-year low, and the stock market just had its worst day of 2023.

Let's dive in.

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Markets

Here are today's market moves:

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What Happened?

• U.S. stocks fell on Tuesday, with the stock market suffering its worst day of 2023.

• The S&P 500 fell 2%, wiping out $720 billion in market value:

• After rallying sharply to kick off 2023, markets have stumbled in recent days. Investors are growing increasingly concerned that the Federal Reserve will keep interest rates higher for longer.

• The crypto market fell on Tuesday, with Bitcoin struggling around a key resistance level at $25,000.

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Catch Up

1. VC fundraising in free fall. Fundraising by venture-capital firms hit a nine-year low in the fourth quarter of 2022.

2. This week marks the one-year anniversary of Russia invading Ukraine on February 24, 2022.

3. ChatGPT creator Sam Altman says the world may not be 'that far away from potentially scary' AI.

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What Else?

Dave Lee @heydave7

I gave a link of Tesla's latest quarterly pdf report to ChatGPT not only did it give a summary of the entire pdf, but it was able to compare financials with other companies like Apple and Google in table format. Wow.

LinkedinFlex (Parody) @LinkedinFlex

Academic powerhouse

Clint Murphy @IAmClintMurphy

Disappear for 6 months, And, focus on these 10 videos. I promise they will change your life:

James Clear @JamesClear

Many situations in life are similar to going on a hike: the view changes once you start walking. You don't need all the answers right now. New paths will reveal themselves if you have the courage to get started.