US stocks weakened slightly in early December, with the S&P 500 and Nasdaq each falling about 0.4% and the Dow Jones Industrial Average falling about 0.7%. All three benchmark indexes rebounded from deeper declines earlier in the session due to continued volatility.
Caution dominated the market ahead of this week's key economic data releases, including the delayed September PCE report, all before next week's FOMC decision. Bitcoin fell more than 6% to trade below 86,000, extending last month's decline below 90,000 and weighing on broader risk sentiment, dragging down crypto-related stocks like Coinbase, which fell nearly 5%.
Broadcom plunged more than 3% on renewed profit-taking among major companies profiting from artificial intelligence, while Microsoft, Alphabet, MetaTrader, Tesla, and Oracle also weakened, although Synopsys surged nearly 5% after Nvidia announced an investment in the company, and Nvidia rebounded 1% to help stabilize the Nasdaq. Retailers advanced as the holiday shopping season gathered pace, with Home Depot and Walmart moving up. (alg)
Source: Trading Economics
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