US Stocks Retreat As Dow Drops For Ninth Consecutive Session
US Stocks Retreat As Dow Drops For Ninth Consecutive Session
Investor attention remains on the Federal Reserve's policy decision on Wednesday, with a 25-basis-point interest rate cut largely priced in. Focus will also be on the Fed's summary of economic projections (SEP) and Chair Jerome Powell's comments, which could provide insights into the pace of rate cuts in 2025.US stocks fell on Tuesday, with the Dow Jones Industrial Average declining for a ninth straight session, as cautious investors awaited the Federal Reserve's final policy announcement for the year amid stronger-than-expected economic data.
美国股票在周二下跌，道琼斯指数连续第九个交易日下跌，谨慎的投资者在强于预期的经济数据的背景下，等待美联储年度最后一次政策公告。
US retail sales rose more than anticipated in November, driven by increased motor vehicle purchases, reflecting the resilience of consumer spending despite elevated interest rates.
美国11月零售销售增幅超出预期，主要受到汽车购买增加的推动，反映出尽管利率较高，消费支出依然韧性十足。
The Dow Jones Industrial Average fell 267.58 points, or 0.61%, to 43,449.90, marking its longest losing streak since 1978. The S&P 500 slipped 23.47 points, or 0.39%, to 6,050.61, while the Nasdaq Composite dropped 64.83 points, or 0.32%, to 20,109.06.
道琼斯指数下跌267.58点，跌幅为0.61%，收于43,449.90，创下自1978年以来最长的连续下跌纪录。S&P 500下跌23.47点，跌幅为0.39%，收于6,050.61，而纳斯达克综合指数下跌64.83点，跌幅为0.32%，收于20,109.06。
Investor attention remains on the Federal Reserve's policy decision on Wednesday, with a 25-basis-point interest rate cut largely priced in. Focus will also be on the Fed's summary of economic projections (SEP) and Chair Jerome Powell's comments, which could provide insights into the pace of rate cuts in 2025.
投资者的注意力集中在周三美联储的政策决策上，25个基点的降息已被大致计入。 市场还将关注美联储的经济预测摘要（SEP）和主席杰罗姆·鲍威尔的讲话，这些可能会提供2025年降息步伐的见解。
Jason Ware, Chief Investment Officer at Albion Financial Group, noted, "This is just standard pre-Fed caution. While a 25-basis-point cut is expected, there is uncertainty around Powell's remarks and the SEP."
阿尔比恩金融集团首席投资官杰森·韦尔指出：“这只是美联储前的标准谨慎。虽然预计会降息25个基点，但对鲍威尔的讲话和SEP存在不确定性。”
Treasury yields fluctuated as markets braced for a potentially "hawkish cut" scenario, where the Fed maintains a cautious stance amid economic momentum and persistent inflation.
由于市场为可能的“鸽派降息”情景做准备，财政收益率波动不定，美联储在经济 momentum 和持续的通货膨胀中保持谨慎立场。
Sector Performance
板块表现
Nearly all 11 major S&P sectors ended in the red, led by a 0.9% decline in industrials. Consumer discretionary stocks outperformed, buoyed by a 3.6% surge in Tesla following a price target increase from Mizuho to US$515.
几乎所有11个主要S&P板块都以红盘收盘，工业板块下跌0.9%。消费品股票表现优异，受到特斯拉股价目标从瑞穗上调至515美元后上涨3.6%的提振。
Pfizer shares climbed 4.7% after the pharmaceutical giant issued a 2025 profit forecast in line with Wall Street expectations.
辉瑞的股票在这家制药巨头发布2025年盈利预测符合华尔街预期后，上涨了4.7%。
The small-cap Russell 2000 index, which is sensitive to higher interest rates, declined 1.2%, while the CBOE Volatility Index – Wall Street's "fear gauge" – rose to its highest level since late November.
小盘股指数罗素2000，在利率期货升高的情况下，下降了1.2%，而CBOE波动指数——华尔街的“恐惧指数”——则升至自11月底以来的最高水平。
Market Breadth and Volumes
市场广度和成交量
Declining issues outnumbered advancing ones by a 2.77-to-1 ratio on the NYSE and 1.79-to-1 on the Nasdaq. The Nasdaq recorded 81 new highs and 197 new lows, while the S&P 500 posted 11 new highs and 19 new lows.
在纽交所，下降的股票数量以2.77比1的比例超过上升的股票，而在纳斯达克为1.79比1。纳斯达克记录了81个新高和197个新低，而S&P 500则发布了11个新高和19个新低。
Volume on US exchanges was 16.17 billion shares, above the recent 20-day average of 14.11 billion shares.
美国交易所的成交量为161.7亿股，高于最近20天的平均成交量141.1亿股。
Reuters
路透社
