“There’s really no reason”
US stock exchanges experience setbacks at the end of the year
December 29, 2023, 11:01 p.m
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Wall Street can look back on a strong year, with all three US indices growing noticeably. The slight decline on the last trading day of the year therefore only dampens the mood to a limited extent. The stockbrokers are still a bit at a loss.
The US stock markets went into reverse on the last trading day of the year. The Dow Jones Index the standard values closed 0.1 percent lower at 37,689 points. Nevertheless, the Dow rose by almost 14 percent in the 2023 stock market year. The technology-heavy one Nasdaq fell 0.6 percent to 15,011 points. Since the beginning of the year it has increased by almost 54 percent.
The broad one S&P 500 lost 0.3 percent to 4,769 points, but is ahead by more than 24 percent over the year. “There’s actually no reason for today’s small sell-off,” said one stock market trader. “There is no news driving him.”
The hope of rapid interest rate cuts by the US Federal Reserve had recently driven the stock markets. The Meta Platforms securities, which were among the top winners in 2023, were down 1.2 percent, but achieved 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.
When it comes to individual stocks, the shares of Uber Technologies and Lyft fell by 2.5 and 3.5 percent. The reason for the price reductions was a downgrade of the ride-hailing company’s equity securities by Nomura. The Gold price fell slightly by 0.1 percent to $2,062. The expectation of falling interest rates drove it to an all-time high of $2,135.40 per troy ounce on December 4th.