Stock market today: Dow, S&P 500, Nasdaq tumble as traders trim rate-cut bets

Published On Nov 15, 2024, 11:04 AM

US stocks experienced a decline as investors processed Fed Chair Jerome Powell's indication that interest rate cuts won't happen quickly. Major indices faced weekly losses, with the S&P 500 down 1.2%, the Dow Jones down 0.7%, and the tech-heavy Nasdaq falling nearly 2%. Retail sales data, however, showcased consumer resilience, with October sales rising 0.4%. Overall, the market is cautious about the Fed's future monetary policy as optimism around President-elect Donald Trump’s upcoming policies wanes.

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Stock Forecasts

SPYView SPY chart on TradingView

Negative

Stocks are facing headwinds due to the Fed's potential delay in rate cuts, impacting investor sentiment and leading to declines. Retail sales indicate economic strength, but ongoing volatility in stock prices reflects uncertainty regarding future policy decisions.

MRNAView MRNA chart on TradingView

Negative

COVID-19 vaccine stocks like Moderna and Novavax have seen sharp declines following the nomination of RFK Jr. for a health position, which raises concerns about future vaccine policies. Investors may continue to sell these stocks, anticipating further struggles in a regulatory environment that could impact their future profitability.

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