Oddbean

U.S. Stocks Move Sharply Lower On Interest Rate Concerns ========== U.S. stocks fell sharply on November 15, 2024, with the Nasdaq dropping 427.53 points (2.2%) to 18,680.12; S&P 500 down 78.55 points (1.3%) to 5,870.62; Dow down 305.87 points (0.7%) to 43,444.99. The declines followed Federal Reserve Chair Jerome Powell's comments on interest rates, indicating a cautious approach due to strong economic data. Retail sales rose 0.4% in October, higher than expected, while import/export prices increased, raising inflation concerns. The Nasdaq fell 3.2% for the week, S&P 500 down 2.1%, and Dow down 1.2%. The CME Group's FedWatch Tool shows a 58.4% chance of a quarter-point rate cut next month, down from 72.2%. Industrial production decreased in October due to hurricanes and a Boeing strike. Biotech stocks fell 3.4%, and semiconductor stocks dropped 2.4%. Global markets showed mixed results, with Japan's Nikkei up 0.3% and China's Shanghai down 1.5%. #Stocks #InterestRates #FederalReserve #RetailSales #Inflation #Biotech #Semiconductors #EconomicData #MarketTrends #GlobalMarkets https://www.rttnews.com/3491014/u-s-stocks-move-sharply-lower-on-interest-rate-concerns.aspx