US stocks end lower ahead of Fed rate decision
Dow falls 0.45%, Nasdaq slips 0.14%, S&P 500 drops 0.35%, while fear index up 8.11%
ISTANBUL
US stocks ended with losses Monday as investors awaited the Federal Reserve's interest rate decision.
The Dow Jones Industrial Average dropped 0.45%, or 215.67 points, to close at 47,739.32.
The Nasdaq fell 0.14%, or 32.22 points, to 23,545.90, while the S&P 500 lost 0.35%, or 23.89 points, to 6,846.51.
The Volatility Index (VIX), also known as the "fear index," rose 8.11% to 16.66.
Investors are focused on the Fed’s interest rate decision, which is set to be released Wednesday. According to the CME FedWatch, investors now see an over 89% chance of a 25-basis-point rate cut for the meeting. The policy rate currently stands at the target range of 3.75% to 4%.
Paramount Skydance shares climbed 9% Monday after the company announced that it will launch a counter-bid to buy Warner Bros. Discovery (WBD) assets against Netflix for $30 per share in cash, amounting to around $108.4 billion. Netflix shares fell 3.4%.
IBM shares rose 0.4% after the firm announced that it will acquire data streaming platform Confluent for $11 billion.
On the data side, short-term inflation expectations of US consumers remained stable at 3.2% in November, according to the results of a survey from the Federal Reserve Bank of New York released on Monday.
The Bureau of Labor Statistics (BLS) announced Monday that the Producer Price Index (PPI) news release for October will not be published due to disruptions in data collection during the US government’s shutdown.
