Fed Concerns Send Major Indexes Lower

Stocks landed firmly in red ink today, with the Dow closing 482 points lower, after hotter-than-expected ISM services index data for November had Wall Street concerned over future rate hikes from the central bank. The 10-year Treasury yield surged after the news, last seen up 10 basis points. Elsewhere, the Cboe Volatility Index (VIX) snapped a four-day losing streak and logged its largest single-session gain since Sept. 23. 

The Dow Jones Industrial Average (DJI - 33,947.10) lost 482.8 points or 1.4% for the day. Boeing (BA) was the only Dow winner, adding 1.2%, while Salesforce.com (CRM) landed at the bottom of the list with a 7.4% loss. 

The S&P 500 Index (SPX - 3,998.84) dropped 72.9 points, or 1.8% for the day, while the Nasdaq Composite Index (IXIC - 11,239.94) shed 221.6 points or 1.9% for today's session.

Lastly, the Cboe Volatility Index (VIX - 20.63) lost 1.6 points or 8.2% for the day.

Closing Indexes Summary Dec 5

NYSE and Nasdaq Stats Dec 5

Unusual Options Activity Dec 5


Oil prices settled lower today, the first day of trading after the European Union (EU) ban on Russian seaborne oil. West Texas Intermediate (WTI) crude for January delivery fell $3.05, or 3.8%, to settle at $76.93 a barrel -- the lowest finish for a front-month contact since Nov. 25. 

Gold futures settled below $1,800 after hitting their highest level since Aug. 10 during the trading day. February-dated gold dropped $28.30, or 1.6%, to settle at $1,781.30 per ounce. 

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