Wall Street's Sharp Decline

On Monday, the United States stock exchanges witnessed a significant downturn, with the Dow Jones falling by 1.51%, shedding 650 points by 9:59 am ET. This decline was mirrored by the Nasdaq 100 and the S&P 500, which dropped by 1.86% and 1.58%, respectively.

Factors Behind the Market's Slump

The market's downturn is attributed to ongoing concerns about the Federal Reserve's monetary policy direction and the practice of year-end profit-taking by investors. As the year draws to a close, the trading week is expected to be shortened, with many looking ahead to 2025.

Euro's Performance Against the Dollar

At 10:00 am ET, the euro was trading 0.20% lower against the dollar, with an exchange rate of 1.04037.