The Dow Jones Industrial Average has recently experienced its longest losing streak since 1978, with nine consecutive days of losses. This decline is significant, as it has not been seen in 46 years.
The broader market, including the S&P 500 and Nasdaq Composite, has also seen declines after the Nasdaq reached a record high. The current market sentiment is influenced by the anticipation of a 0.25% rate cut by the Federal Reserve, which could be announced soon.
Retail sales data indicates a 0.7% increase in November, suggesting consumer confidence remains steady despite market challenges. However, major tech stocks, such as Nvidia, have seen declines, reflecting concerns about the tech sector's performance.
Bitcoin has surged in price, reaching over $108,000 before retreating. This highlights the growing interest in cryptocurrencies as an alternative investment during market volatility.
The performance of equities and cryptocurrencies will be impacted by the Federal Reserve's decision on interest rates and its guidance on future rate hikes. The resilience of alternative assets like Bitcoin may play a role in portfolio diversification strategies.