Is there still a Santa Claus rally? Understand in one article why the US stock market suddenly dropped on Friday.
Large Technology stocks are leading the decline, with Tesla once dropping over 6%, and the sell-off in QITABANKUAI is also accelerating. Aside from technical factors like profit-taking, the 10-year US Treasury yield is hovering at a seven-month high, intensifying the downward pressure on the stock market. Goldman Sachs states that by the end of the year, USA pensions will sell $21 billion in US stocks, and CTAs will sell an additional $4 billion, resulting in significant selling pressure.
With Trump's inauguration and the non-farm payroll data coming in, will the market face numerous risks in January next year?
Do not let your guard down! The market will face several major events at the beginning of 2025...
U.S. stock market closing | Rising U.S. Treasury yields pressured U.S. stocks, with both the S&P 500 and Nasdaq falling over 1% overnight, but seeing slight gains over the week; Tesla dropped nearly 5%, leading the decline among the seven tech giants.
U.S. Treasury yields rose, putting pressure on U.S. stocks, with the Dow Jones dropping more than 560 points at its lowest, and the Nasdaq, Nasdaq 100, Small Cap, chip, and the China concept index all falling over 2% during intraday trading. However, the Dow Jones halted a three-week decline, ending with a weekly increase of 0.4%, the S&P 500 rose 0.7% for the week, and the Nasdaq gained 0.8% for the week.
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