US markets faced broad pressure as traders reduced expectations for a Federal Reserve interest-rate cut in December. Major equity benchmarks moved lower in early New York trading. The S&P 500 dropped 0.01% by mid-morning and slipped below its 50-day moving average. The NASDAQ 100 rose 0.2%, while the Dow Jones Industrial Average declined 0.6%. Momentum stocks led the decline, with the artificial-intelligence sector seeing sharp losses.
Cryptocurrencies also faced selling. Bitcoin fell 2.5% to trade near $96,300. Ether gained slightly but failed to offset broader weakness in digital assets. Risk appetite weakened as traders reassessed the likelihood of near-term policy easing.
Bond markets moved in the opposite direction. The yield on 10-year US Treasuries slipped to 4.10%. Two-year yields also edged lower. European bond markets showed mixed moves. Germany’s 10-year yield rose to 2.70%, while the UK’s 10-year yield climbed to 4.55%.
A lack of government data added uncertainty for investors. The recent delayed key economic reports, leaving markets without crucial indicators. Policymakers and traders continue to operate with limited visibility. Analysts expect the data flow to resume soon, but they warn of potential volatility as new reports arrive.