Stocks fell sharply Thursday, weighed down by technology shares and concerns that the Federal Reserve will hold interest rates steady in December.<\/p>\n
The Nasdaq composite led indexes lower, falling 2.3%, as chip stocks including Nvidia and Broadcom were hit hard. Tesla skidded 6.6% and data-center operator CoreWeave<\/a> tumbled 8.3%. Nasdaq’s slide during November deepened to 3.6%, even as the government reopened<\/a> after a record-long shutdown.<\/p>\n The Dow meanwhile fell 798 points, or 1.7%, with losses accelerating in the afternoon. The blue-chip index was dragged lower by Disney shares, which fell 7.7% after the company reported lower-than-expected revenue<\/a>.<\/p>\n Investors are growing more concerned that the Fed might pause<\/a> its interest-rate cutting campaign next month. On Thursday, futures pricing implied a roughly 50% chance of an interest-rate reduction at the Fed’s next meeting Dec. 10, down from more than 60% Wednesday and about 70% a week ago, according to CME data.<\/p>\n One subplot: how delayed economic reports will affect the Fed’s next move. A White House official said Thursday that an unemployment rate for October wouldn’t likely be published<\/a>, but some labor data is still expected. Flight disruptions<\/a> might also continue for a while, providing continued headwinds for consumer spending.<\/p>\n Cisco Systems stock bucked the trend, rising 4.6% and nearing its first record high<\/a> in more than 25 years after the cyber-networking company raised its outlook. Verizon shares perked up 0.8% after The Wall Street Journal reported the telecom company is planning to cut<\/a> about 15,000 jobs.<\/p>\n Precious-metals futures<\/b> slipped<\/b> a day after silver closed at record highs<\/a>.<\/p>\n Bitcoin dropped 3.4%<\/b> to about $98,076. It now stands about 22% below its all-time intraday high in October.<\/p>\n The Swiss franc<\/b> strengthened against the dollar on hopes for lower U.S. tariffs. President Trump said this week he was considering cutting levies on Swiss goods.<\/p>\n \ud83d\udce7 Get smarter about markets with our free weekday morning<\/a> and evening<\/a> newsletters.<\/p>\n","protected":false},"excerpt":{"rendered":"Stocks fell sharply Thursday, weighed down by technology shares and concerns that the Federal Reserve will hold interest…\n","protected":false},"author":2,"featured_media":141322,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[174],"tags":[79,179,18,19,17,83669],"class_list":{"0":"post-179299","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy","10":"tag-eire","11":"tag-ie","12":"tag-ireland","13":"tag-risk-compliance"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ie\/115544952943311424","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/179299","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=179299"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/179299\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/141322"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=179299"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=179299"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=179299"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}