Good afternoon.
Markets fall, OpenAI is seeking a valuation of up to $90 billion, and the U.S. stock market has wiped out $2 trillion in September.
Let's dive in.
Markets
Here are today's market moves:
What Happened?
U.S. stocks fell on Tuesday, continuing their slide after the Fed raised its interest-rate forecasts for 2024.
The S&P 500 is down 5.2% in September, wiping out $2 trillion in value:
Summer rally fades. The summer stock market rally has fizzled out after steep declines this month.
The crypto market fell on Tuesday, with Bitcoin trading near $26,000. The world's largest crypto is still up 58% this year.
Catch Up
September effect. The U.S. stock market is down 5.2% this month, its worst month of 2023.
Amazon stock fell 4% after the FTC sued the company, alleging illegal monopoly practices.
OpenAI is seeking a valuation of up to $90 billion in a share sale.
What Else?
