Published: Thursday, December 19, 2024 · 11:10 PM | Updated: Thursday, December 19, 2024 · 11:10 PM
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The US stock market faced volatility following the Federal Reserve’s hawkish stance, which reduced the projected rate cuts for next year. After a significant drop, the Dow Jones Industrial Average slightly rebounded, closing with a modest gain of 15 points at 42,342, halting a ten-day losing streak.
The S&P 500 Index fell by 5 points or 0.1% to close at 5,867, while the Nasdaq Composite closed down 19 points or 0.1% at 19,372, after initially rising by almost 1%.
Tech stocks showed mixed performance. NVIDIA (NVDA) and Amazon (AMZN) rose over 1%, while Tesla (TSLA) initially rebounded but ended the day down 0.9%. Alphabet (GOOG) and Meta (META) each saw slight declines of less than 1%, and Apple (AAPL, Financial) increased by 0.7%. Micron Technology (MU) saw a sharp decline, closing down 16% due to weak revenue guidance for the current fiscal quarter.
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