US Stock Market Today: Tech Stocks Start December On Sour Note; Nvidia, AMD Down 1%
The S&P 500 fell 0.6%, while the Nasdaq Composite lost 0.8%. The Dow Jones Industrial Average pulled back by 275 points, or 0.6%.
US equities fell on Monday at the start of December as volatility continued following a choppy November.
The S&P 500 fell 0.6%, while the teach-heavy Nasdaq Composite lost 0.8%. The Dow Jones Industrial Average tanked 275 points, or 0.6%.
Nvidia Corp and Advanced Micro Devices Inc. lost more than 1%, while Broadcom shares dipped more than 3%, indicating more turmoil in the artificial intelligence trade. Synopsys Inc jumped 4% after Nvidia announced a $2 billion investment in the company.
Traders will also have fresh macro data sets this week for the US economy, including a manufacturing print for November and a much-delayed inflation number for September. A preliminary reading of consumer confidence in December is also due, and will be key given it’s a post-government shutdown reading on the health of the economy.
The yield on the 10-year Treasury bond rose seven basis points at 4.08%.
In currency markets, the yen led gains among major peers after hawkish comments from the Bank of Japan. The dollar index was down 0.3% at 99.1, the lowest since October.
Bitcoin dropped more than 5% to trade below $87,000. The cryptocurrency late last month fell below $90,000 for the first time since April and has since struggled to stay above that mark. Ether fell 6.9% to $2,815.
Oil prices rose as a key pipeline linking Kazakh fields to Russia’s Black Sea coast halted loading after one of its three moorings was damaged in an attack. Brent traded near $63 a barrel.
