NEW YORK/LONDON, Dec 9 - Global shares turned lower on Monday as traders focused on inflation data and chip stocks fell, while Beijing's promise of stimulus lifted oil and gold prices.
The Dow Jones Industrial Average , fell 85.44 points, or 0.19%, to 44,559.65, the S&P 500 , fell 27.93 points, or 0.46%, to 6,062.34 and the Nasdaq Composite , fell 108.40 points, or 0.55%, to 19,751.38. Markets now imply an 85% chance of a quarter-point cut at the Fed's Dec. 17-18 meeting, up from 68% ahead of the jobs figures, and have a further three cuts priced in for next year.The dollar index , which measures the greenback against a basket of currencies including the yen and the euro, fell 0.12% to 105.82, with the euro up 0.21% at $1.059.
This week is full of central bank meetings, aside from the ECB's. The Swiss National Bank could cut rates by as much as half a point given slowing inflation, as could Canada's central bank when it meets on Wednesday.