New York Stock Exchange Slips Alongside Profit Realization Sales for Year-End

All three major indexes of the New York Stock Exchange closed lower as profit-taking sales poured in, mainly in tech stocks, which had been on the rise this year ahead of the year-end settlement.

On the New York Stock Exchange, the Dow Jones 30 Industrial Average closed at 42,992.21, down 333.59 points or 0.77% from the previous day.The

Standard & Poor's 500 index closed at 19,722.03, down 66.73 points and 1.11% from the previous day, at 5,970.86, and the Nasdaq Composite index closed at 19,722.03, down 298.33 points and 1.49% from the previous day.

This is attributed to increased investor anxiety as the U.S. producer price index recently exceeded expectations, raising concerns about inflation and the Federal Reserve's pace of rate cuts.

Investors have also been cautious due to increased volatility in major artificial intelligence-related technology stocks such as Nvidia, and the lack of indicators or power to rebound the market since monetary policies in major countries were announced.