Markets
Here are today’s market moves:
What Happened?
The S&P 500 fell on Tuesday following the long labor day weekend. Investors worry that the spread of Covid will weigh on economic growth.
The tech-heavy Nasdaq managed to close at a record high on Tuesday.
According to the Bureau of Labor Statistics, 225,000 jobs were created in August vs. 750,000 expected by economists.
The disappointing figure gives the Fed a reason to not make a decision on tapering its support in September.
The crypto market fell during a flash crash on Tuesday, with Bitcoin trading near $47k, despite El Salvador becoming the first country to adopt the cryptocurrency as legal tender.
Catch Up
The extra $300/week in enhanced unemployment benefits are set to expire this week.
The SPAC market has erased $75B in startup value since mid-February highs.
Execs at hedge fund Renaissance Technologies will pay as much as $7 billion to IRS, a tax settlement that may be the largest in history.
What Else?
