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U.S. Stocks Close Monday Down
(MENAFN) Wall Street closed sharply lower Monday as market participants braced for the Federal Reserve's imminent interest rate announcement.
The Dow Jones Industrial Average plummeted 0.45%, shedding 215.67 points to settle at 47,739.32.
The Nasdaq declined 0.14%, dropping 32.22 points to finish at 23,545.90, while the S&P 500 retreated 0.35%, losing 23.89 points to end at 6,846.51.
The Volatility Index (VIX), commonly referred to as the "fear index," surged 8.11% to reach 16.66.
Market attention remains fixed on the Fed's interest rate verdict scheduled for Wednesday's release. According to the CME FedWatch, investors now see an over 89% chance of a 25-basis-point rate cut for the meeting. The policy rate currently stands at the target range of 3.75% to 4%.
Paramount Skydance shares soared 9% Monday following the company's announcement that it will launch a counter-bid to buy Warner Bros. Discovery (WBD) assets against Netflix for $30 per share in cash, amounting to around $108.4 billion. Netflix shares fell 3.4%.
IBM shares rose 0.4% after the firm announced that it will acquire data streaming platform Confluent for $11 billion.
Economic data released Monday showed short-term inflation expectations of US consumers remained stable at 3.2% in November, according to the results of a survey from the Federal Reserve Bank of New York released on Monday.
The Bureau of Labor Statistics (BLS) announced Monday that the Producer Price Index (PPI) news release for October will not be published due to disruptions in data collection during the US government's shutdown.
The delayed inflation metrics compound uncertainty surrounding the central bank's monetary policy trajectory, leaving traders navigating murky economic visibility ahead of the critical rate decision.
The Dow Jones Industrial Average plummeted 0.45%, shedding 215.67 points to settle at 47,739.32.
The Nasdaq declined 0.14%, dropping 32.22 points to finish at 23,545.90, while the S&P 500 retreated 0.35%, losing 23.89 points to end at 6,846.51.
The Volatility Index (VIX), commonly referred to as the "fear index," surged 8.11% to reach 16.66.
Market attention remains fixed on the Fed's interest rate verdict scheduled for Wednesday's release. According to the CME FedWatch, investors now see an over 89% chance of a 25-basis-point rate cut for the meeting. The policy rate currently stands at the target range of 3.75% to 4%.
Paramount Skydance shares soared 9% Monday following the company's announcement that it will launch a counter-bid to buy Warner Bros. Discovery (WBD) assets against Netflix for $30 per share in cash, amounting to around $108.4 billion. Netflix shares fell 3.4%.
IBM shares rose 0.4% after the firm announced that it will acquire data streaming platform Confluent for $11 billion.
Economic data released Monday showed short-term inflation expectations of US consumers remained stable at 3.2% in November, according to the results of a survey from the Federal Reserve Bank of New York released on Monday.
The Bureau of Labor Statistics (BLS) announced Monday that the Producer Price Index (PPI) news release for October will not be published due to disruptions in data collection during the US government's shutdown.
The delayed inflation metrics compound uncertainty surrounding the central bank's monetary policy trajectory, leaving traders navigating murky economic visibility ahead of the critical rate decision.
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