Traders work on the New York Stock Exchange.
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U.S. stocks went down on Wednesday. This happened after many Big Tech companies lost value. There are worries about interest rate cuts which made investors sell their stocks.
The Dow Jones Industrial Average lost 30 points, which is less than 0.1%. The S&P 500 also dropped by 0.1%. The Nasdaq Composite went down by about 0.3%. These major stock groups are on track for a second straight weekly loss.
Palantir, which had a big rise last year, fell for three days now, losing more than 3%. Advanced Micro Devices dropped 4.5% after a downgrade by HSBC.
New data showed fewer jobs were created in December. Wages grew slowly. Many investors are waiting for the Fed’s meeting minutes later today.
Also, there are news reports about President-elect Donald Trump possibly declaring a national economic emergency.
Bond yields continue to rise, indicating worries about inflation.
Vocabulary List:
- Traders /ˈtreɪdərz/ (noun): Individuals or entities that buy and sell financial instruments like stocks.
- Stocks /stɒks/ (noun): Shares of ownership in a company or financial asset.
- Worries /ˈwʌriz/ (noun): Feelings of anxiety or concern about potential problems.
- Downgrade /ˈdaʊnˌɡreɪd/ (verb): To reduce the rating of a company or financial instrument.
- Inflation /ɪnˈfleɪʃən/ (noun): The rate at which the general level of prices for goods and services is rising.
- Emergency /ɪˈmɜːrdʒənsi/ (noun): A serious unexpected and often dangerous situation requiring immediate action.
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