Wall Street's Holiday Jitters: A Year-End Wrap-Up

Wall Street ended in the red as 2024 closed, with major indexes posting notable declines amidst thin holiday volume and market uncertainty. Despite the dip, the year saw significant gains, fed by technology advances and political shifts, including Donald Trump's re-election and AI-driven stock surges.

In a light trading session ahead of the holidays, Wall Street experienced a downturn, closing in negative territory. The decline came despite a year marked by impressive double-digit gains across major indexes.

Factors such as year-end tax positioning, increased Treasury yields, and uncertainties surrounding 2025 fueled a cautious market sentiment. The three major U.S. stock indexes dipped over 0.5%, affecting all 11 S&P 500 sectors.

Despite recent volatility, 2024 yielded strong growth, with technology, communication services, and consumer sectors seeing significant gains. However, the day ended with Wall Street in a cautious posture as investors brace for a potentially volatile 2025.

(With inputs from agencies.)