Good evening.
Markets slide, the U.S. economy added 517,000 jobs last month, and ChatGPT is the fastest-growing app in history.
Let's dive in.
Markets
Here are today's market moves:
What Happened?
U.S. stocks fell on Friday after disappointing tech earnings and a strong jobs report.
The U.S. economy added 517,000 jobs in January, far higher than expected. This sparked worries that the Fed will need to do more to cool the economy.
What emotion is driving the market in 2023? Extreme greed.
A reading of extreme greed indicates that the market could be due for a pullback.
The crypto market fell on Friday, with Bitcoin trading near $23,400. The world's largest cryptocurrency is up 41% in 2023.
Catch Up
ChatGPT, the popular AI chatbot, has reached 100M users in just two months.
The U.S. unemployment rate fell to 3.4% in January, its lowest since 1969.
Michael Burry, the famous investor who bet against the housing market, tweeted one word on Wednesday — "Sell" — and then deleted his account.
