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Markets Close Lower With Nasdaq Losing Almost 2%

Moomoo News ·  Jan 7 13:05

Markets closed lower Tuesday with the Nasdaq leading the way.

At 4:01 p.m. ET, the $Nasdaq Composite Index (.IXIC.US)$ closed down 375.30  (1.89%). The index is on pace for its worst day since Dec. 18, according to Dow Jones Market Data.

The$Dow Jones Industrial Average (.DJI.US)$ preliminarily closed off 177.77 (0.42%) and the$S&P 500 Index (.SPX.US)$ was down 66.31 (1.11%).

In stock news, $NVIDIA (NVDA.US)$ fell more than 6% after its record-setting day on Monday. Fellow tech stocks declined, including $Tesla (TSLA.US)$ falling almost 4% after a Bank of America downgrade while $Apple (AAPL.US)$ and $Microsoft (MSFT.US)$ each fell more than 1%.

The 10-year Treasury yield closed at 4.684% and the 30-year yield continued rising to 4.910%, reaching its highest level since Nov. 2023.

Bitcoin traded just under $97,000 and oil futures reached their highest settlement since October.

On Wednesday, the December Federal Open Market Committee (FOMC) meeting minutes will be released, along with initial jobless claims (week ending Jan. 4), ADP employment report (December) and consumer credit (November).

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