Wall Street dyed red

VTV.vn - Wall Street's main indexes closed on December 8 with most sectors in the S&P 500 basket in the red.

Traders at the New York Stock Exchange, USA. (Photo: THX/TTXVN)

Wall Street's major indexes fell on December 8, with most sectors of the S&P 500 index in the red, while US government bond yields rose as investors anxiously awaited the upcoming interest rate decision of the US Federal Reserve (Fed).

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.

Source: https://vtv.vn/pho-wall-nhuom-sac-do-100251209093321951.htm