Stocks tumbled on Friday as the postelection rally fizzled, placing the major averages on track for sharp weekly losses.
The Dow Jones Industrial Average lost 305 points, or 0.7%. The S&P 500 slipped about 1.3%, while the Nasdaq Composite shed 2.2%.
Declines in pharmaceutical stocks weighed on the 30-stock Dow and the S&P 500, with Amgen down 4% and Moderna off by 6%. President-elect Donald Trump said on Thursday that he planned to nominate vaccine skeptic Robert F. Kennedy Jr. to lead the U.S. Department of Health and Human Services. The SPDR S&P Biotech ETF (XBI) tumbled more than 3% and headed for its worst week since 2020.
The information technology sector of the S&P 500 was the worst performing corner of the market, down more than 2% as Nvidia, Meta Platforms, Alphabet and Microsoft tumbled. Tesla was a rare exception among its Magnificent Seven peers, as shares of the electric vehicle giant and so-called "Trump Trade" were higher by 2%.
Source : CNBC
European equities edged lower on Wednesday as investors adopted a cautious stance ahead of the Federal Reserve's policy decision, limiting risk taking across regional markets. The STOXX 50 fell 0.3%,...
European shares inched lower on Wednesday, as investors refrained from placing big bets ahead of the U.S. Federal Reserve's interest rate decision, while also parsing through a slate of corporate upda...
Asian stock markets moved up slightly at the start of Wednesday's session, after Wall Street's sluggish overnight close, closing almost flat. Benchmark indexes in Australia and Japan rose slightly, wh...
The S&P 500 closed lower Tuesday as Federal Reserve kicked off its two-day meeting, which is expected to culminate in third rate cut for the year. At 4:0 ET p.m. (21:00 GMT), the Dow Jones Indust...
European stocks closed slightly lower on Tuesday, with the STOXX 50 slipping 0.1% and the broader STOXX 600 finishing near the flat line, as traders refrained from making large moves ahead of the Fede...
Federal Reserve Chairman Jerome Powell attributed the surge in inflation above the 2% target to the import tariffs imposed by President Donald Trump. In a press conference following the FOMC meeting, Powell explained that much of the current...
The Federal Reserve on Wednesday said that it would start buying short-dated government bonds to help manage market liquidity levels to ensure the central bank retains firm control over its interest rate target system. The technically oriented...
European equities edged lower on Wednesday as investors adopted a cautious stance ahead of the Federal Reserve's policy decision, limiting risk taking across regional markets. The STOXX 50 fell 0.3%, while the STOXX 600 was little changed,...
The Job Openings and Labor Turnover Survey (JOLTS) will be released on Tuesday by the U.S. Bureau of Labor Statistics. Due to the prolonged...
The latest survey data from the US Bureau of Labor Statistics has reported an increase in JOLTs Job Openings, a key indicator of the health of the...
Asian stock markets started the week cautiously. The MSCI Asia Index fell slightly by 0.1%, in line with weakening US index futures. Australia also...
European stocks weakened at the opening bell on Monday (December 8th) as global investors focused on this week's US Federal Reserve monetary policy...