The US stock market saw declines across major indices, halting a four-day rally for the S&P 500. The Dow Jones fell 0.86% to 43,910.98 points, while the Nasdaq dropped 0.09% to 19,281.40 points, and the S&P 500 decreased by 0.29% to 5,983.99 points. Notable movements included Nvidia (NVDA) rising by 2% and Tesla (TSLA, Financial) falling by 6%.
Bitcoin reached a significant milestone, surging past $90,000, while Ethereum fell by more than 3.2% to $3,261. In the commodities market, COMEX December gold futures fell by 0.53% to $2,604.00 per ounce, impacted by a stronger US dollar index which has reached its highest in four months.
In European markets, major indices fell sharply, with the German DAX30 down 2.13% and the French CAC40 declining by 2.69%. The broader European markets were similarly affected.
The foreign exchange market saw the US dollar index rise to its highest level since November 2022, exerting pressure on the euro and other currencies. Strategy reports from major financial institutions like JPMorgan and Goldman Sachs predict further dollar strength.
Boeing (BA) announced that it will take several weeks to fully resume production after a strike that significantly disrupted operations. The company's factories in Washington and Oregon are gradually coming back online.
Meta (META) has reduced its subscription fees for ad-free experiences on Facebook and Instagram in the EU by 40%, as part of an effort to comply with European regulations and offer users more control over personalized ads.
MSCI's Morgan Stanley upgraded Dell's (DELL) price target from $136 to $154, maintaining an "overweight" rating due to increased sales of its AI servers.
