The Dow barely ended its longest continuous decline in 50 years, Micron fell by 16%, the US dollar reached a two-year high again, and US bonds, oil, and Bitcoin all dropped.

U.S. stock market's other Indexes turned down towards the end, Tesla rose by nearly 4% before closing down, NVIDIA reached a high of 4%, and Micron Technology had its steepest decline in five years. The yield on the 10-year U.S. Treasury bonds briefly increased by nearly 10 basis points approaching 4.60%, close to a seven-month high, while short-term bond yields fell, with the 2/10-year yield spread at its widest in two and a half years. The Bank of England held rates steady, but more officials supported a rate cut, leading to a decline in the British Pound. The Governor of the Bank of Japan suppressed interest rate hike expectations, causing the yen to fall towards 158, and the offshore renminbi briefly dropped below 7.32 yuan to its lowest in 15 months. Bitcoin fell by 5%, approaching $0.096 million. Spot Gold rose by 1.6% before narrowing back below $2,600, while the futures silver fell by 5%, and U.S. crude oil fell below $70.

wallstreetcnDec 19 18:26 ET

Bitcoin briefly dropped below 0.1 million dollars as the Federal Reserve's latest rate outlook weakens Cryptos.

Due to the cautious interest rate cut outlook by the Federal Reserve impacting speculative demand, Bitcoin once dipped below $100,000. This largest digital asset reached $98,760 on Thursday, around $10,000 lower than the record high set earlier this week, before returning to six-figure levels. Ethereum and the popular Dogecoin also performed poorly. Federal Reserve officials cut borrowing costs for the third consecutive time but lowered expectations for rate cuts in 2025. Chairman Jerome Powell stated that more progress is needed on inflation before further easing of monetary policy.

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