The Dow Jones Industrial Average dropped by 128 points, or 0.3%, with similar declines seen in the Nasdaq and S&P 500 as corporate concerns surface. Meta Platforms and ON Semiconductor experienced notable losses of 6% and 9%, respectively, while Paramount Global fell nearly 4% after being downgraded by Wells Fargo. This downturn is compounded by expectations that the Federal Reserve will increase interest rates by 0.75%, raising apprehensions about ongoing corporate profitability. Additionally, Tusimple's stock plummeted over 45% following its CEO's firing and an FBI and SEC investigation into its financial practices.
“The Dow Jones Industrial Average · fell · points · 128”
“The Dow Jones Industrial Average · fell · percentage · 0.3%”
“The Nasdaq · was down · percentage · 1%”
“The S&P 500 · fell · percentage · 0.7%”
“The Dow · had · best month · since January 1976”
“Meta Platforms Inc · slumped · percentage · 6%”
“ON Semiconductor Corporation · fell · percentage · 9%”
“The Federal Reserve · is expected to lift rates · percentage · 0.75%”
“Goldman Sachs · added · hint · FOMC will likely slow the pace to 50bp in December”
“Paramount Global · fell · percentage · nearly 4%”
“Wells Fargo · downgraded · Paramount Global · to underweight from equal weight”
“Tusimple · tumbled · percentage · more than 45%”
