Declines in tech and crypto sectors close out a turbulent October

October has been a turbulent month for the markets, characterized by sharp rallies and steep downturns, largely influenced by ongoing government shutdown concerns and tech companies' substantial AI spending. Major indices like the Nasdaq and S&P 500 experienced losses of -0.35% and -0.42%, respectively, with tech giants like Meta and Microsoft facing downward pressure. Meta's stock notably fell by -11.3%, marking its biggest drop in three years. Meanwhile, gold prices rose by 1.96% as investors looked for safe havens amid uncertainty, while crypto sectors also suffered with losses across the board. The crypto landscape observed declines, particularly in sectors like L2 and Launchpad, which dropped by -8.9% and -8.7%, respectively. The setback in crypto values highlights the need for patience and clarity for investors, as opportunities continue to persist despite current challenges.

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