U.S. stocks dipped on Monday in one of the year’s final trading sessions, as a strong year for investors appeared to conclude on a weaker note.
The Dow Jones Industrial Average fell 418.48 points (-0.97%) to 42,573.73, while the S&P 500 dropped 1.07% to 5,906.94, and the Nasdaq slid 1.19% to 19,486.78.
The SPDR S&P 500 Trust (SPY) recorded about 47 million shares traded, a relatively low figure given the day’s significant market decline.
Large tech stocks faced pressure, with Tesla falling 3.3% and Meta Platforms dropping 1.4%. Nvidia rose 0.4%, helping mitigate broader losses.
Jeremy Siegel, Senior Economist at WisdomTree, warned of a potential correction in 2025:
“I think the probability of a 10% drop in the S&P next year is increasing. The forces driving markets upward are already priced in.”
Despite Monday’s losses, U.S. indices have delivered strong annual gains, with the S&P 500 up 24%, the Dow gaining 13%, and the Nasdaq climbing 30% in 2024.
