Crypto Rallies Despite Coinbase Crash and SEC Lawsuit

US stocks closed slightly higher as investors held back on big moves before next week's Federal Reserve policy meeting. The Securities and Exchange Commission sued crypto exchange Coinbase for operating as an unregistered securities exchange and broker, causing shares to plummet 12.1%. The World Bank estimated that advanced economies will grow by a mere 0.7% in 2023, while emerging and developing economies are expected to expand 4%. Sequoia Capital announced it would split into three separate units, and DoubleLine Capital CEO Jeffrey Gundlach said the US looks like it's bound for a recession. Apple shares dipped 0.2% after the company's Worldwide Developers Conference, but analysts remain optimistic about the company's future.