Wall Street did not find a continuation of last month’s rally in the first days of December. Photo: Reuters/Scanpix
The main US indices closed in the red on Wednesday: the S&P 500 lost -0.39%, the Dow 30 lost a little less -0.19% and the Nasdaq lost -0.58%. The reason is that investors are pessimistic about data that signals a rapid cooling of the labor market.
In fact, investors are looking for clues about the health of the US labor market, who in turn are looking for clues about the Fed’s next policy move. It is believed that the Fed’s next move will be to lower interest rates, and the markets are expect a cut of at least 100 basis points next year. This also concerns Bitcoin, which briefly rose above $44,000. Another reason for the rise of cryptocurrency is the long-awaited arrival of the bitcoin mutual fund.
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2023-12-06 19:27:00
a-cooling-job-market-forced-wall-street-lower-on-wednesday