September 17: Market Summary

Quadruple Witching causes market chaos


Markets

Here are today’s market moves:


What Happened?

  • The S&P 500 and other major indexes fell on Friday, as options and futures expired in a quarterly event known as quadruple witching.

  • This event is known to cause market volatility, as today’s price action confirmed.

  • Market performance has been weak in September, a generally bad month for stocks. The good news is that October, November, and December tend to be stronger.

  • All eyes are on the Fed policy meeting next week for any clues on when the central bank will begin to slow down support.

  • The crypto market fell on Friday, with Bitcoin trading near $47k, after news that the U.S. Treasury Department is preparing a report on stablecoins and their potential risks to the financial system.


Catch Up

  1. Fed’s balance sheet increases to record $8.45 trillion.

  2. Madoff victims get $568 million payout five months after his death.

  3. Popular chat app Discord is valued at $15 billion after new funding.


What Else?