A Degree Of Calm.
After seven straight months of S&P 500 gains for the first time since 2021 carrying the index back to within 1% of more new all-time highs, solid Black Friday sales and Chat GPT’s third birthday with the Mag 7 names up a collective 300% in that time, markets began December in risk-off mode with profit-taking in vogue.
Cryptocurrencies resumed their brutal plunge on Monday as the Chinese central bank warned against speculation, pulling crypto-related stocks down. The NASDAQ led stocks lower with Big Tech/AI under pressure again. The session ended with blood red across the board for equities…
The skinny
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