Wall Street closes down as tech stocks fall
By Echo
Wang
Mon December 9, 2024 6:27 PM
It was a shot straight down on all the indexes as the entire market felt the sting of Nvidia being investigated by the Chinese, a move that infected the entire chip sector sending Nvidia down 2.5%, Advanced Micro Devices 5.7% and the chip index itself down almost 1%. Today’s big plunge may also have to do with hedging bets as CPI data is due Wednesday and PPI Thursday to get a better fix on inflation. Unemployment rose to 4.2% indicating a loosening labor market which also bolsters the case for a December rate cut, the odds of which today stand at 85%. Industrials of course may be just continuing their correction after the recent record highs. For once, volume exceeded the 14.46 average, coming in today at 15.11 billion.
DJ: 44,642.52 -123.19 NAS: 19,859.77
+159.05 S&P: 6,090.27
+15.16 12/6
DJ: 44,401.93 -240.59 NAS: 19,736.69 -123.08 S&P: 6,052.85 -37.42 12/9
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