Stock market today: Dow, S&P 500, Nasdaq futures sell-off as government shutdown looms, inflation data improves but still sticky
Published On Dec 20, 2024, 8:53 AM
US stock futures indicate a challenging day ahead for Wall Street, attributed to the House of Representatives rejecting a spending bill, increasing the risk of a government shutdown. Key inflation data shows a slowing in price increases, potentially affecting Federal Reserve interest rate cuts next year. Futures tied to major indices fell, notably the tech-heavy Nasdaq. Notable sell-offs occurred in chip stocks, with companies like NVIDIA and AMD under pressure. Additionally, Novo Nordisk's stock plunged over 20% after a disappointing drug trial, while Tesla shares dropped 6% due to a recall.