Equity Alert
US indices fall post 5-day winning run; utility, energy cos down
This story was originally published at 08:05 IST on 2 December 2025
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Equity Alert: US indices fall post 5-day winning run; utility, energy cos down
MUMBAI--0746 IST--Benchmark equity indices in the US ended lower Monday, snapping a five-day winning streak. US Treasury yields rose as traders anticipated slightly faster economic growth, aided by higher chances of the US Federal Reserve lowering interest rates at the central bank's policy meeting next week. Utilities, healthcare, and industrial stocks closed lower and cryptocurrency-related stocks slumped after Bitcoin fell 6% to trade below $86,000, exerting pressure on the stock market.
American utility company First Solar and Exelon Corp. closed over 3% lower. Duke Energy Corp. ended nearly 3% lower. Healthcare major Pfizer was down nearly 2%. FedEx Corp., an industrial company in the region, closed nearly 1% lower.
Among cryptocurrency stocks, shares of Coinbase fell 5% and those of Strategy closed over 3% lower. On Monday, Bitcoin slid 6%, marking its worst day since March. Digital currency Bitcoin late last month fell below $90,000 for the first time since April and has since struggled to stay above that mark, CNBC reported. "Today's drop could be a combination of a deleveraging from crypto and risk assets tied to the facts that the rate cuts are priced and people are taking some profits," Reuters reported Wasif Latif, chief investment officer at Samarya Partners, as saying.
Among artificial intelligence-related companies, Broadcom and Super Micro Computer lost 4% and 1%, respectively. Meanwhile, Synopsys closed almost 5% higher after AI chip company Nvidia said it had invested $2 billion in the semiconductor design software provider.
The US 10-year Treasury note yield was up around 7 basis points at 4.096% following weakness in Japanese and European government bonds in the wake of comments by Bank of Japan Governor Kazuo Ueda, who signalled that conditions were aligning for a possible rate hike, Reuters reported. Higher chances of an interest rate cut and consequently, faster economic growth, also pushed yields higher.
Market participants await the delayed September report on the Personal Consumption Expenditures Price Index, which is the Fed's preferred inflation gauge, on Friday. Traders are now pricing in a nearly 88% probability that the apex bank will cut key rates by a quarter percentage point at its policy meeting in December, according to the CME FedWatch tool. Chances of an interest rate cut have risen considerably from a month ago owing to dovish commentary by Fed officials and weaker-than-expected consumer data from the US.
Following are the closing levels of US indices Monday:
| Index | Level | Change in % |
| S&P 500 | 6812.63 | (-)0.53 |
| NASDAQ Composite | 23275.92 | (-)0.38 |
| Dow Jones Industrial Average | 47289.33 | (-)0.9 |
(Arundathi A R)
End
US$1 = INR 89.55
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Avishek Dutta
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