Market Roundup: What Happened Yesterday and What We Can Expect Today (December 30)

Wall Street Declines as Tech Stocks Lag and Gold Plunges; Global Markets Move Cautiously at Year-End

Major U.S. stock indexes closed lower on Monday, with technology stocks leading losses, while precious metals retreated from record highs. Trading began the holiday-shortened week without any major corporate earnings announcements, keeping activity subdued.

The Nasdaq Composite fell 0.5%, while the Dow Jones Industrial Average and the S&P 500 declined by 0.5% and 0.4%, respectively. The pullback followed gains of more than 1% across all three indices last week, even as markets snapped a five-session winning streak. Investors had been hoping the year-end rally would extend into early 2026.

Technology and artificial intelligence stocks were the main laggards. Nvidia shares fell 1.2%, while Tesla dropped 3.3%, making it the worst performer among major Nasdaq names. Palantir and Oracle also declined by about 2.4% and 1.3%, respectively, amid ongoing concerns about elevated capital spending in the tech sector and uncertainty over the profitability timeline of AI investments.

In commodities, precious metals fell sharply after the Chicago Mercantile Exchange raised margin requirements. Gold futures slid more than 4% to around $4,350 per ounce, after reaching a record high near $4,585 late last week. Silver futures dropped roughly 6.5% to about $72.15 per ounce, after touching a session high of $82.65. The sell-off weighed on mining stocks, with Newmont emerging as the worst performer in the S&P 500, down nearly 6%.

In contrast, West Texas Intermediate crude futures rose about 2% to $57.90 a barrel, supported by escalating tensions between the United States and Venezuela.

The yield on the 10-year U.S. Treasury fell to around 4.11% compared with Friday’s close, while currency markets saw limited movement. Bitcoin edged slightly lower to near $87,000, while the U.S. dollar index ticked up marginally to 98.06.

On the corporate front, shares of DigitalBridge Group surged roughly 10% after Japan’s SoftBank Group announced it would acquire the data center investment firm for $4 billion.

In global markets, Asian equities were mixed. Japan’s Nikkei slipped modestly, while South Korean and Chinese markets posted small gains. Hong Kong stocks edged higher, while Australia’s benchmark index declined under pressure from energy and mining shares, as investors remained cautious and took cues from Wall Street.

European markets also closed mixed. Some indices benefited from selective buying and strength in industrial stocks, while others came under pressure, particularly in the energy and banking sectors, as investors awaited clearer signals on global monetary policy and macroeconomic conditions.

Market Expectations for Today

Looking ahead, global markets are expected to trade within narrow ranges amid lighter volumes typical of the holiday period. Investors are likely to remain cautious and avoid high-risk positioning. Technology stocks may stay under pressure if concerns over capital spending and AI returns persist, while precious metals could attempt a technical rebound after recent sharp declines. Oil prices may remain supported by geopolitical tensions, while bonds and currencies are likely to move sideways in the absence of fresh catalysts as the year draws to a close.