September 17: Market Summary
Quadruple Witching causes market chaos
Here are today’s market moves:
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.
Fed’s balance sheet increases to record $8.45 trillion.
Madoff victims get $568 million payout five months after his death.
Popular chat app Discord is valued at $15 billion after new funding.