
All three US major indices closed in the red on Monday, dragged down by continued weakness in major AI-related stocks. Shares of Broadcom, Oracle, and Microsoft declined as investors rotated out of big technology names into more defensive sectors such as healthcare, utilities, industrials and financials. Attention now turns to Tuesday’s jobs data, with markets expecting a sharp slowdown in payroll growth and a slight uptick in the unemployment rate.
Dow Jones closed 0.7% lower yesterday at 48,438. Nasdaq 100 ended the session and fell 0.3% to close at 25,079. While the S&P500 dropped 0.13% to 6,819.
In the Forex market, EUR/USD held above the 1.1700 level on Monday, trading near 1.1740 as the U.S. dollar weakened ahead of Tuesday’s key Nonfarm Payrolls report. The Dollar Index slipped for a third session in four days, reflecting growing caution about U.S. labor market momentum.
Mixed signals from Federal Reserve officials added to the uncertainty, with some policymakers sounding dovish while others leaned slightly hawkish. Investors are now focused on upcoming U.S. employment and retail sales data for direction. Meanwhile, expectations in Europe remain steady, with economists anticipating the ECB to keep rates unchanged in December and largely on hold through 2026 amid subdued inflation and a resilient economy.
Asia-Pacific markets declined broadly on Tuesday, tracking losses on Wall Street. Hong Kong’s Hang Seng led losses, falling over 2%, while China’s CSI 300 dropped 1.2%. Japan’s Nikkei and Topix fell around 1.5% amid softer PMI data, while Australia’s ASX 200 ended 0.4% lower, reversing earlier gains.
In the crypto market, bitcoin fell about 4% to $85,300 on Tuesday, extending its recent decline as risk appetite for speculative assets remained weak ahead of key U.S. economic data. Despite the Federal Reserve’s recent rate cut and dovish tone, bitcoin has struggled to find support, with investors staying cautious ahead of November’s Nonfarm Payrolls and upcoming U.S. inflation data.
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