Market Brief 04 September, 2024

Good evening, investors and traders! The markets are experiencing a slight downturn today, with the Nasdaq 100 Index (NDX) down by -0.21% to 18,919.67 and the S&P 500 Index (GSPC) down by -0.16% to 5,520.01. Nvidia (NVDA) saw a historic market cap drop after a DOJ subpoena, while the tech sector experienced major losses. The cryptocurrency market is also facing challenges, with Bitcoin (BTC) dropping nearly 3% in 30 minutes and Ethereum (ETH) shedding about 4%. The US Fed rate cut could push Bitcoin down by 20%, according to analysts. The BRICS summit is attracting attention, with Turkey's President accepting an invitation to attend.