US Stocks Rally, Crypto Plunges: Fed Rate Cut Hopes

US stocks closed higher on Friday, buoyed by anticipation of a December interest rate cut by the Federal Reserve. The Nasdaq and S&P 500 both gained around one percent, while the Dow Jones Industrial Average rose by approximately one point one percent. However, the week ended on a sour note as all three major US stock indexes recorded losses, with the S&P 500 dropping nearly two percent and the Nasdaq falling almost three percent. Cryptocurrencies, particularly Bitcoin, also faced a challenging week, with the digital currency trading as low as eighty-two thousand dollars on Friday.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.