US stocks: all three major indices are displayed in red, the S&P 500 falls by 0.46%, and the Dow gains by 0.4% ahead of the Fed meeting minutes in December.
Wednesday saw a decline in US stock indices as investors booked profits after a strong 2023 and looked ahead to the Federal Reserve’s December meeting minutes, which might offer hints about the institution’s future interest rate path.
On Tuesday, after a ferocious run in stock markets, Wall Street began the new year on a depressing note as pressure from rising rates hit Apple and other high-growth businesses.
As investors priced in substantial rate cuts this year in response to signals of slowing inflation, the benchmark S&P 500 this week came dangerously close to reaching its all-time closing high.
The 10-year Treasury yield increased to 3.968% on Wednesday, marking the fourth straight day that shares of rate-sensitive mega cap firms fell. Nvidia, Apple, and Tesla saw their shares decline between 0.6% and 3.8%.