Stock Markets Slide, Chip Stocks Hit Hardest
Update: 2026-01-01
Description
US stocks closed the year on a downturn, with the S&P 500, Dow, and Nasdaq all dropping. Chip makers and data storage firms were hit hardest, pushing the market to its lowest point in a week. Higher bond yields and light trading volumes added to the pressure. However, positive news from China, including a rise in manufacturing PMI, helped boost global sentiment. Chip stocks and mining shares fell, but Vanda Pharmaceuticals surged on FDA approval. All eyes are on Fridays December S&P manufacturing PMI as markets prepare for Fed moves.
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