On November 20, 2024, U.S. stock markets experienced a notable decline as escalating military tensions in Ukraine raised investor concerns. This downturn was particularly influenced by Ukraine's recent use of British Storm Shadow missiles and U.S.-made ATACMS missiles against Russian territory, prompting a significant response from Russia, which announced a lowered threshold for nuclear action [e988bccd].
The Dow Jones Industrial Average fell by 40.15 points (0.09%) to close at 43,228.79, while the S&P 500 lost 30.00 points (0.51%) to finish at 5,886.98. The Nasdaq Composite also saw a decline, dropping 123.86 points (0.65%) to 18,863.61. The fear gauge on Wall Street, known as the VIX, rose to 18.79, marking the highest level since the November 5 U.S. presidential election [e988bccd].
In the tech sector, Nvidia's shares dropped 0.8% ahead of its earnings report, indicating a cautious sentiment among investors. Conversely, cryptocurrency stocks saw a surge as Bitcoin surpassed the $94,000 mark, reflecting a growing interest in digital assets amid the market's volatility [e988bccd].
Target's stock faced a significant plunge of 20.7% following disappointing forecasts for the holiday quarter, further contributing to the overall market decline. Additionally, Federal Reserve officials hinted at a potential pause in interest rate changes, with a 44.5% chance of no adjustment in December, which may influence market dynamics moving forward [e988bccd].
As traders continue to navigate these turbulent waters, the implications of the ongoing geopolitical situation remain a critical factor in market performance and investor sentiment [e988bccd].