US stocks fall ahead of Fed meeting

Photo caption — Traders at the New York Stock Exchange, USA. Photo: THX/TTXVN

At the end of the session, the Dow Jones industrial average fell 215.67 points, or 0.45%, to 47,739.32 points, the S&P 500 composite index lost 23.89 points, or 0.35%, to 6,846.51 points, and the Nasdaq technology index fell 32.22 points, or 0.14%, to 23,545.90 points.

Hopes for a December rate cut were bolstered by data last week showing consumer spending rose only slightly at the end of the third quarter. But investors are still waiting for clues on future policy moves as the Fed faces its biggest split in years.

Traders are now betting on an 89% chance the Fed will cut rates by 0.25 percentage points on December 10, according to CME's FedWatch tool.

Meanwhile, rising U.S. government bond yields also weighed on stocks. The yield on the benchmark 10-year government bond rose shortly after a powerful earthquake struck off the coast of Japan, before the U.S. stock market opened.

Notably, Netflix shares fell 3.4% in the session after Paramount Skydance offered to buy Warner Bros Discovery for $108.4 billion to compete with Netflix. Netflix's decline had a big impact on the media services group in the S&P 500 index. In contrast, the only sector that gained points was technology thanks to the momentum from Microsoft, Nvidia and Broadcom.

The market's focus will shift to tech valuations later this week, with earnings reports from Broadcom and Oracle amid investor concerns about leveraged artificial intelligence (AI) spending.

In the Vietnamese market, the VN-Index increased by 12.42 points (0.71%) to 1,753.74 points, while the HNX-Index decreased by 1.97 points (0.76%) to 258.68 points.

Source: https://baotintuc.vn/thi-truong-tien-te/chung-khoan-my-giam-diem-truoc-them-cuoc-hop-cua-fed-20251209071547787.htm