A Christmas tree stands in front of the New York Stock Exchange in New York City. On this day, President-elect Donald Trump is ringing the opening bell to celebrate being named Time magazine’s ‘Person of the Year.’ This happened on December 12, 2024.
Adam Gray | Reuters
Stocks went down on Friday. This was mainly because of technology companies. However, the major stock averages are still doing well this holiday week.
The Dow Jones fell by 310 points. This is the first drop in six days. The S&P 500 went down 1.3%, and the Nasdaq Composite fell by 2%. Tesla shares dropped by 5%, and Nvidia fell by more than 3%. Other companies like Amazon, Microsoft, and Alphabet also fell.
In December, the Nasdaq is up by 4.2%. The S&P 500 has a small gain of 0.1%. However, the Dow is down about 3.5% this month.
Many people think stocks will go up again soon. This is called the “Santa Claus rally.” It usually happens at the end of December and the start of January.
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