Stocks Slip as Treasury Yields Climb; Bitcoin Drops 2%
The Dow, S&P 500 and Nasdaq all close lower Tuesday while gold and oil edge up.
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The Dow, S&P 500 and Nasdaq all close lower Tuesday while gold and oil edge up.
Futures point to a roughly 80% chance the Fed raises rates next month, and Tuesday's CPI could seal it.
The Nasdaq gained 1.1% as chip stocks recovered, while a strong jobs report kept pressure on interest rates.
The Dow lost 1,833 points and the Nasdaq fell into a correction as chip and data-center stocks collapsed.
Wall Street cheered the end of election uncertainty after Democrats won Congress, and plunging oil prices added fuel.
The S&P 500 rose 0.4% even though most of its stocks fell, as Nvidia, AMD and Broadcom led a tech rebound and Apple disappointed.
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