Market Brief 03 September, 2024

Good evening, investors and traders! The markets experienced a volatile day, with the Nasdaq 100 Index (NDX) closing down by -3.14% to 18,959.56 and the S&P 500 Index (GSPC) closing down by -2.11% to 5,528.94. Key news included the Bank of Japan’s Governor reiterating that the central bank will hike rates if the outlook is realized, and the US ISM Manufacturing PMI survey rising to 47.2. The Federal Reserve’s interest rate decision will continue to impact Bitcoin’s trajectory, and the SEC is increasing pressure on crypto companies with new charges against Galois Capital for custody rule violations. The crypto market saw a broad selloff, with Bitcoin falling by 2.5% along with broader market sentiment.