Market Recap – March 17th
The markets continued their decline as the fallout of the banking sector continued. Panic is still prevalent among investors and economists as what seemed like a solid economic recovery now looks bleak. The indices ended the week negative with the S&P 500 down 1.10%, the Dow Jones down 1.19%, and the NASDAQ down 0.74%.
Speaking of the banking sector, First Republic Bank continued their fall, down 32.80%. Facing major downgrades from firms, they fell another 15.33% as pressure is continuing to mount on them. On a more positive note, Coinbase rose by 10.62% to $74.98 as cryptocurrency continued a strong week in the wake of the financial problems plaguing the economy.
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I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.