US stock markets suffer a setback at the end of the year
Wall Street can look back on a strong year, with all three US indices growing noticeably. The slight fall on the last trading day of the year therefore only dampened the mood to a limited extent. Nevertheless, stock market players are somewhat perplexed.
The US stock markets went into reverse gear on the last trading day of the year. The Dow Jones index of blue chips closed 0.1 percent lower at 37,689 points. Nevertheless, the Dow has risen by almost 14% in 2023. The technology-heavy Nasdaq fell 0.6 percent to 15,011 points. Since the beginning of the year, it has risen by almost 54 percent.
The broad-based S&P 500 lost 0.3 percent to 4769 points, but is up more than 24 percent for the year. "There's really no reason for today's little sell-off," said one stockbroker. "There is no news to drive it."
Hopes of rapid interest rate cuts by the US Federal Reserve had driven the stock markets recently. Although Meta Platforms shares, which were among the top gainers in 2023, were down 1.2 percent, they had their best stock market year to date with a price increase of around 200 percent. The stock exchanges will be closed on Monday for the New Year holiday.
Among the individual stocks, the shares of Uber Technologies and Lyft fell by 2.5 and 3.5 percent respectively. The reason for the price falls was a downgrade of the ride-hailing company's dividend shares by Nomura. The price of gold fell slightly by 0.1 percent to 2062 dollars. Expectations of falling interest rates had driven it to an all-time high of 2135.40 dollars per troy ounce on December 4.
Read also:
- Why there is still no EU funding for green Saar steel
- 3 billion Saar Fund is unconstitutional
- Lack of snow also opens up new opportunities for winter tourism
- Abrupt end to e-car subsidies
Despite the slight dip in share prices on Wall Street's last trading day, the Dow Jones index still posted a significant yearly gain of almost 14%. The Fed's potential interest rate cuts had fueled optimism in stock trading, with tech giants like Meta Platforms seeing an increase of around 200% in their share prices.
Investors are keeping a close eye on the actions of the Fed, as any changes in interest rates could significantly impact stock trading on Wall Street, including the performance of indexes like the Dow Jones.
Source: www.ntv.de
