US Stocks Decline for a Fourth Day; Yields Climb: Markets Wrap
- Shares of big-tech firms fell, taking the S&P 500 lower
- US homebuilder sentiment sank to a level not seen in a while
This article is for subscribers only.
US stocks dropped for a fourth session as traders assessed the Federal Reserve’s path next year after central bank officials vowed to keep raising rates until they’re confident inflation is coming down meaningfully.
The S&P 500 closed at its lowest level in more than a month, dragged by declines in big-tech firms including Apple Inc., Microsoft Corp. and Amazon.com Inc. The tech-heavy Nasdaq 100 slid 1.4%. Walt Disney Co. ended Monday’s session at its lowest since March 2020 after a somewhat disappointing opening weekend for the company’s Avatar: The Way of Water.