Dow, S&P 500, Nasdaq fall, bitcoin falls after Christmas break

On By Littum

U.S. stocks fell on Thursday as trading resumed after the Christmas break, and Wall Street digested one of the week’s only major economic data points.

The S&P 500 (^GSPC) fell 0.3%, while the tech-heavy Nasdaq (^IXIC) fell 0.3%. The Dow Jones Industrial Average (^DJI) also lost about 0.2%.

Tech stocks led the modest declines as the 10-year Treasury yield ( ^TNX ) rose past 4.6%.

Meanwhile, bitcoin (BTC-USD) fell, falling below the $96,000 level as choppy trading continued. Crypto-linked stocks like MicroStrategy ( MSTR ) followed the declines.

Markets appeared to be struggling in an attempt to extend the start of the “Santa Claus Rally”, which started with a bang on Tuesday. All three major indexes rose around 1%. The S&P 500 and Nasdaq Composite moved within striking distance of their records after paring gains from a Fed-fueled plunge last week.

As Wall Street strolls back from its vacation, the usually routine release of weekly jobless claims took more focus than usual as the only piece of the jobs puzzle this week.

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    Shares edge lower, putting a pause on the Santa Claus rally

    Stocks opened lower Thursday after a Christmas break, putting a pause on a Santa Claus rally.

    The S&P 500 (^GSPC) fell 0.3%, while the tech-heavy Nasdaq (^IXIC) fell 0.3%. The Dow Jones Industrial Average (^DJI) lost 0.4%, leading the way down.

    All 11 sectors in the S&P 500 were lower, with real estate stocks leading the downside.

  • Jenny McCall

    Good morning. Here’s what’s happening today.