Finance

Major stock indexes experienced a turbulent final trading session of the third quarter, with the Dow Jones Industrial Average dropping 0.86% and the S&P 500 slipping 0.25% in late-day reversals. Conversely, the technology-focused Nasdaq Composite gained 0.24% on the day, managing a 1.7% increase for the month. Ultimately, the Dow and S&P 500 locked in monthly losses of 4.9% and 0.7%, respectively, amid rising yields and sticky energy prices.

The Federal Reserve's preferred inflation gauge, the Personal Consumption Expenditures price index, registered an annual gain of 3.4% for August, matching the revised figure from July. Core PCE inflation slowed down further to a 3.0% annualized rate, indicating that broader price pressures are showing signs of moderation. The cooler-than-expected data initially gave equities a boost before strong economic growth metrics took center stage.

Digital assets exhibited steady trading patterns as the month concluded, breaking away from historical historical trends of a weak September. Bitcoin held firm in the $83,000 to $84,000 range, while Ethereum moved slightly higher to trade near $2,686. Analysts observe that keeping above the $82,000 baseline remains essential for current market momentum, while Solana displayed relative outperformance among the large-cap tokens.