Tech stocks, led by Nvidia, caused Nasdaq and Dow to close lower

From NASDAQ.: 2024-12-09 16:29:28

Tech stocks, led by Nvidia, saw weakness with the Nasdaq and Dow both closing lower. Profit taking hit Wall Street, pushing the S&P 500 down. The Cboe Volatility Index (VIX) saw its best single-session gain since Nov. 15.

The Fed’s Beige Book is optimistic about the economy in 2025, while the European Central Bank (ECB) may still cut interest rates. Fintech stocks rise after an upgrade, Exxon-Mobil stock presents an intriguing entry point, and an activist investor takes a stake in Macy’s.

Oil prices rose due to developments in Syria and China’s stimulus measures, with WTI crude settling at $68.37 per barrel. China’s increased gold buying boosted the safe-haven asset, with gold settling at $2,688.40 an ounce.



Read more at NASDAQ.: Dow, Nasdaq Shed Triple Digits as Nvidia Weighs