Markets
Here are today’s market moves:
What Happened?
The S&P 500 fell for a fifth consecutive day on Friday, finishing the week down 1.69% – its worst weekly decline since June.
September is usually a bad month for stocks, and the past week seems to confirm that. Nevertheless, stocks are still sitting near all time highs.
As summer comes to an end, investors are mainly concerned about:
When the Fed will slow down its support.
Rising Covid cases nationwide.
The crypto market fell on Friday, with Bitcoin trading near $44,600 and Ethereum near $3,200, as cryptocurrencies declined with the broader market.
Catch Up
Fed officials will sell individual stock holdings by September 30 to address “ethics concerns.”
Bank of America expects the S&P 500 to fall to 4250 by the end of the year, a roughly 5% decline.
Apple can no longer force developers to use in-app purchasing, judge rules.