Posted 12/5/2023, 3:25:41 AM
Stocks Slide as Traders Temper Rate Cut Bets After November Rally
- Stocks fell Tuesday, extending the sell-off seen on Wall Street, as traders scaled back bets on interest rate cuts after November's big rally
- Markets had surged last month on hopes of looser monetary policy in 2023, but some say expectations went too far
- Analysts warned volatility could continue in the near term before positive seasonal trends lift markets next month
- Traders awaiting US jobs data this week that could either boost or dampen optimism about rate cuts
- Cryptocurrencies like Bitcoin rose after firms like BlackRock moved closer to getting regulatory approval for crypto ETFs