Stock market today: Dow, S&P 500, Nasdaq fall, bitcoin slumps after Christmas break
Published On Dec 26, 2024, 9:30 AM
After the Christmas break, the U.S. stock market saw a decline with major indexes such as the Dow, S&P 500, and Nasdaq all falling by 0.1% to 0.4%. Technology stocks were particularly hit as the yield on the 10-year Treasury climbed above 4.6%, leading to concerns about higher interest rates affecting growth. Additionally, Bitcoin dropped below $96,000, causing crypto-related stocks like MicroStrategy to also experience losses.
Stock Forecasts
QQQ
Negative
The continuing decline in tech stocks, especially with rising Treasury yields, suggests a challenging environment for technology and growth stocks in the near term. Investors should consider caution towards tech-heavy funds or stocks until a reversal is seen or yields stabilize.
MSTR
Negative
With Bitcoin prices dropping and high volatility continuing in the cryptocurrency market, it may be prudent to avoid investments in cryptocurrency stocks or ETFs until signs of stabilization appear. MicroStrategy's losses reinforce this caution in crypto-linked equities.
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