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The Nasdaq fell to 0.02 million points, Adobe plummeted more than 13%, the China concept Index rose against the trend, and Bitcoin dropped below 0.1 million dollars.
In November, USA PPI inflation exceeded expectations, with the market betting on a pause in interest rate cuts in January next year. The Dow has fallen for six consecutive days, with NVIDIA experiencing the largest drop of 2.5%. Tesla, Meta, Google, and Amazon have moved away from their highs, uranium mining stocks have declined, but Apple reached a new high. Broadcom rose nearly 5% in after-hours trading, and Chinese stocks Baidu and PDD Holdings increased by over 1%. Bond yields in Europe and the USA have risen significantly, and after the European Central Bank cut interest rates, the euro fell to a one-week low, before rebounding. The dollar reached a two-week high, while the offshore yuan once rose over 200 points, breaking through 7.26 yuan. Commodities generally fell, with spot gold down over 2% and spot silver down over 4% during the session.
Express News | Trump, at NYSE: We're Going to Do Something Great With Crypto, AI; Will Need Electricity
Regulatory obstacles for Cryptos are expected to be removed, yet still difficult to please Bank of America bankers.
At this week's Reuters NEXT conference held in New York, bankers from Bank of America expressed a cautious attitude towards Cryptos, despite the market generally expecting that more friendly regulations under the leadership of incoming President Trump will pave the way for lending institutions to expand into the digital Assets sector.
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