Wall Street is painted red.

VTV.vn - The main Wall Street indices closed the trading session on December 8th with most sectors in the S&P 500 basket in the red.

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

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

At the close of trading, the Dow Jones Industrial Average fell 215.67 points, or 0.45%, to 47,739.32, the S&P 500 composite index lost 23.89 points, or 0.35%, to 6,846.51, and the Nasdaq technology index dropped 32.22 points, or 0.14%, to 23,545.90.

Hopes for a December interest rate cut were bolstered after last week's data showed consumer spending rose only slightly at the end of the third quarter. However, investors remain awaiting clues about future policy moves, as the Fed is currently experiencing its biggest split in years.

According to CME's FedWatch tool, traders are currently betting on an 89% chance that the Fed will cut interest rates by 0.25 percentage points on December 10th.

Meanwhile, rising US government bond yields also put pressure on stocks. The yield on 10-year government bonds rose immediately after a strong earthquake struck off the coast of Japan, before the US stock market opened.

Notably, Netflix shares fell 3.4% in this session after Paramount Skydance offered to acquire Warner Bros. Discovery for $108.4 billion in an effort to compete with Netflix. This decline in Netflix's stock significantly impacted the media services sector within the S&P 500 index. Conversely, the only sector to gain was technology, thanks to gains from Microsoft, Nvidia, and Broadcom.

This weekend, the market's focus will shift to the valuations of the technology sector, with earnings reports from Broadcom and Oracle, amid investor concerns about spending on artificial intelligence (AI) with borrowed capital.

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