The S&P 500 Index ($SPX) (SPY) on Wednesday closed down -0.74%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.63%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.84%. March E-mini S&P futures (ESH26) fell -0.71%, and March E-mini Nasdaq futures (NQH26) fell -0.89%.
Stock indexes retreated on Wednesday, with the S&P 500, the Dow Jones Industrial Average, and the Nasdaq 100 sliding to 1.5-week lows. The weakness in chip stocks and data storage companies led the broader market lower on the last trading day of the year. Also, mining stocks slid on Wednesday, with gold prices falling to a 2.5-week low and silver prices plunging more than -9%. In addition, higher bond yields are negative for stocks, as the 10-year T-note yield climbed +4 bp to 4.16% after weekly jobless claims unexpectedly fell to a 1-month low, a hawkish factor for Fed policy.
