US Equity Markets Fall as Materials, Consumer Discretionary Lead Declines

MT Newswires Live05:24

US equity indexes closed lower Monday as materials and consumer discretionary paced the declining sectors, while silver futures plunged after reaching $80 an ounce overnight.

* Pending home sales climbed 3.3% in November, building on a 2.4% gain in October and surpassing the 1% increase projected in a Bloomberg survey, National Association of Realtors data show. Sales rose 2.6% from a year earlier.

* Gold and silver futures tumbled after CME Group raised margin requirements for several precious metal contracts amid heightened market volatility, the Wall Street Journal reported. Silver slumped 8.7%, while gold dropped 4.5%.

* February West Texas Intermediate crude oil rose $1.17 to settle at $57.91 per barrel, while February Brent crude, the global benchmark, was last seen up $1.16 at $61.80.

* DigitalBridge (DBRG) shares rose 9.6% after the company agreed to be acquired by SoftBank Group for $4 billion.

* Tesla (TSLA) shares fell 3.3%, the biggest drop on the Nasdaq, after Reuters reported the company's 2023 supply deal with South Korean battery materials supplier L&F is now valued at $7,386, down from a previous estimate of $2.9 billion.

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