US stocks plummeted Monday, with the Dow falling 418 points or 1% as it closes out its record-breaking year. The S&P 500 and Nasdaq also declined, with the tech-heavy Nasdaq seeing a 1.19% drop. Big Tech investments such as Amazon, Alphabet, and Tesla led the sell-off.
Boeing’s stock took a hit after a fatal crash in South Korea prompted an inspection of its planes. Shares fell over 2% on the news. The cryptocurrency market also saw volatility, with Bitcoin trading at $94,000 before closing.
Natural gas prices surged 20% to a nearly two-year high amid concerns about a cold blast that could increase demand and curb supply. Year-end repositioning strategies often contribute to market volatility, especially during thin-traded days like Monday.
Despite the losses, the Dow, S&P 500, and Nasdaq are still on track to book gains for the year. The Nasdaq is set to see its biggest gains, up over 32% as of Monday’s close.
Source: https://edition.cnn.com/2024/12/30/investing/stock-selloff-dow/index.html