Key evening financial updates:
On December 8, U.S. stocks opened higher but then collectively plunged. As of the latest update, both the Dow Jones and S&P 500 indices have turned negative.
Chinese concept stocks showed mixed performance, with the Nasdaq Golden Dragon China Index up 0.4%. Among Chinese stocks, the chemical, semiconductor, and biopharmaceutical sectors led gains.
Precious metals also tumbled. Spot gold and silver fell 0.45% and 1.03%, respectively.
Domestic futures in night trading mostly declined, with glass and caustic soda dropping over 2%, while coking coal, coke, ethylene glycol, low-sulfur fuel oil (LU), corn, and soda ash fell more than 1%.
U.S. President Trump announced plans to sign an executive order this week streamlining AI approval processes to prevent states from creating conflicting regulations. On Truth Social, he stated, “To maintain U.S. leadership in AI, we need one rulebook… I’ll issue a ‘One Rule’ order this week. Companies shouldn’t need 50 approvals for every move.”
Regarding Fed rate cuts, White House National Economic Council Director Hassett noted that Chair Powell likely views cuts as prudent but emphasized data dependency. He cautioned against pre-committing to a rate path, calling it irresponsible. When asked about 2026 rate cut expectations, Hassett declined specifics but reiterated data-driven decision-making as the Fed’s mandate.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should proceed at their own risk.
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