Tech Stocks Drop as Markets End 2024 on a Volatile Note

Major indices see losses as investors reassess valuations and focus shifts to 2025 economic uncertainties.

The S&P 500 fell 1.5%, Nasdaq dropped 2.1%, and Dow Jones declined 1.1% in Friday trading as tech giants like Tesla and Nvidia led the downturn.
Despite the recent dip, 2024 has been a strong year for markets, with the S&P 500 up over 26% and the Nasdaq rising more than 30%.
The Federal Reserve's anticipated interest rate cuts in 2025 and Donald Trump's return to the White House are key factors influencing market sentiment.
Tech stocks, including the 'Magnificent Seven,' saw broad declines after significant gains this year, with Tesla losing over 4% and Nvidia down 3%.
The 10-year Treasury yield hovered near seven-month highs at 4.6%, reflecting ongoing concerns about inflation and economic stability.