US stocks fell sharply on Monday, with major technology companies leading the decline. The Dow Jones Industrial Average and S&P 500 dropped 1.4% and 1.5%, respectively, while the Nasdaq Composite plummeted 1.7%. Large-cap tech stocks including Broadcom, Tesla, Apple, Nvidia, Microsoft, Alphabet, Amazon, and Meta Platforms fell sharply, with some stocks down as much as 3%.
The decline extends last Friday’s losses, which erased most of the gains posted during the holiday-shortened week. Boeing shares plummeted 4% after a 737-800 operated by South Korea’s Jeju Air crashed, killing 179 people.
Yields on 10-year Treasurys fell to 4.55%, while Bitcoin dropped to $92,000 and Gold futures declined 0.5%. Crude oil futures rose 1%.
Tesla shares are down in premarket trading after two consecutive days of losses, with investors awaiting the company’s Q4 deliveries report. Analysts predict a deliveries number of around 510,000 units, which would represent 10% growth from the prior quarter.
Futures tied to major indexes also lost ground, with Dow Jones Industrial Average futures down 0.6%, S&P 500 futures down 0.8%, and Nasdaq 100 futures off 0.8%.
Source: https://www.investopedia.com/dow-jones-today-12302024-8767396