The US stock market closed lower on June 24, marking a decline in all three major indexes. The Nasdaq Composite led the way down, falling 2.22% to 25,587.04. This significant drop was not isolated to just the tech-heavy index, as both the Dow Jones Industrial Average and S&P 500 also closed lower.
The Nasdaq's decline of over 2% was particularly noteworthy, with many analysts attributing it to a broader risk-off sentiment and strengthening US dollar. The fear index is currently at 23, indicating a moderate level of concern among investors.
Looking ahead, forecasters predict that if the US stock market continues to weaken, the crypto market may see increased pressure from institutional and retail investors withdrawing funds. However, some analysts are cautioning against widespread panic, citing conflicting signals in economic indicators such as gold prices and Treasury yields.