Market Recap – February 24th 💰

Market Recap – February 24th

On Friday’s trading day, investors continued the week’s downward trend as newer economic gauges seemed to reiterate the future of more aggressive inflationary tightening throughout the year. All three major posted their largest weekly losses for 2023, with the S&P 500 falling by 1.05%, the NASDAQ Composite dropping by 1.69%, and the Dow Jones decreasing by 1.02%.

Alongside the trend from the broader indices, tech company Autodesk saw its shares fall by 12.95%, following weak guidance for their next fiscal quarter. Other tech giant Adobe felt similar pressure, dropping 7.63% after a Bloomberg report claimed the U.S. Justice Department may be blocking their $20 billion acquisition of startup Figma.

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