Dec 10, 2024 (MENAFN via COMTEX) --
(MENAFN) US stocks closed lower on Monday after reaching record highs the previous week. The Dow Jones Industrial Average fell by 240.59 points, or 0.54 percent, ending at 44,401.93. The S&P 500 dropped 37.42 points, or 0.61 percent, closing at 6,052.85, while the Nasdaq Composite declined by 123.08 points, or 0.62 percent, finishing at 19,736.69.
Although the stock indices saw a decline, the Dow had finished above 45,000 for the first time last week, and the S&P 500 and Nasdaq both marked record highs. Investors showed caution following the strong gains, which contributed to Monday's retreat. The VIX, also known as the "fear index," rose by 1.42 percent, reaching 14.19, signaling increased market uncertainty.
In contrast to the drop in equities, precious metals saw positive movement. Gold rose by 1.04 percent, reaching USD2,660.39 per ounce, while silver increased by 2.74 percent, closing at USD31.8265. These gains suggest that investors turned to safe-haven assets amidst the volatility in the stock market.
Oil prices also saw an uptick on Monday. Global benchmark Brent crude rose by 1.21 percent, reaching USD71.80 per barrel. The increase in oil prices reflects ongoing concerns about supply and demand in the global market.
The mixed performance of the stock and commodity markets highlights investor caution after a period of strong growth. As markets navigate potential risks, traders are balancing optimism with a wary eye on potential economic challenges.
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COMTEX_460702393/2604/2024-12-10T16:27:05
