Global Stocks Decline Amid Rising Yields

Global stocks declined on Tuesday, surrendering earlier gains and were on track for a fourth consecutive daily fall. Elevated U.S. Treasury yields contributed to a lackluster end to an otherwise strong year for equities. On Wall Street, modest initial gains evaporated as the tech sector dropped by about 1%.

Some of the top S&P 500 performers this year, including Palantir Technologies, Vistra Corp, and Nvidia, were lower as investors booked profits at the end of a strong year that saw the benchmark S&P 500 jump more than 23% and the Nasdaq by nearly 29%. The Dow Jones Industrial Average fell 96.67 points, or 0.23%, to 42,477.06, the S&P 500 lost 27.63 points, or 0.47%, to 5,879.31, and the Nasdaq Composite shed 153.60 points, or 0.79%, to 19,333.19. U.S. equities have surged this year, with the S&P 500 on track for its fifth annual gain in the past six years. The two-year jump of about 53% would mark the strongest back-to-back annual performance for the index since 1997-1998. The rally has been fueled by growth expectations surrounding artificial intelligence, expected rate cuts from the U.S. Federal Reserve, and the likelihood of deregulation policies from the incoming Trump administration. But the recent economic forecast from the Fed, along with worries that President-elect Donald Trump's policies such as tariffs may prove inflationary, have sent yields higher, with the benchmark 10-year U.S. Treasury note reaching its highest level since May 2 at 4.641% last week, helping to cool the rally. 'The market will experience greater volatility in 2025 as I believe the market is pricey. We could see additional profit taking in 2025,' said Sam Stovall, chief investment strategist with CFRA Research

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