In this framework, the Promedio Industrial Dow Jones fell 1.4%, to 34,947.10 units, while the The S&P 500 yielded 1.8%, to 3,998.84 units. The Nasdaq Composite lost 1.9%at 11,293.94 units.
The data comes on the heels of a survey last week that showed stronger-than-expected job and wage growth in November, defying hopes that the Fed could reduce the pace and intensity of its rate hikes, amid recent signs of waning inflation.
“The job market is looking good…it’s almost this kind of weird world where good news is bad news,” said Jonathan Waite, a fund manager at Frost Investment Advisors.
The Federal Open Market Committee that sets rates meets on December 13-14, in the final meeting of a volatile year in which the central bank tried to stem a rise in inflation to multi-decade highs with record rises in prices. interest rates.
“We had a nice rally and that gives investors a small opportunity to take profit and readjust their portfolio as the end of the year approaches.said Peter Cardillo, chief market economist at Spartan Capital Securities. “I don’t think it’s the start of a downtrend, more of a bit of a pause.”
Tesla Inc fell 6.4% due to the electric vehicle maker’s plans to cut December production of the Modelo and at its Shanghai plant by more than 20% from the previous month.