:max_bytes(150000):strip_icc():format(jpeg)/GettyImages-2191141362-756167b0dacc4acb83943f047c308d9a.jpg "Recovery teams work at the scene where a Jeju Air Boeing 737-800 series aircraft crashed and burst into flames at Muan International Airport in Muan, some 288 kilometres southwest of Seoul on December 30, 2024")
JUNG YEON-JE / AFP via Getty Appearances
Recovery teams work at the scene where a Jeju Air Boeing 737-800 series aircraft crashed and explode into flames at Muan International Airport in South Korea, on Dec. 30, 2024
Key Takeaways
- U.S. equities sank at midday with investors outwardly looking to lock in 2024 profits ahead of tomorrow’s last trading day of the year.
- South Korea called for inspections of Boeing 737-800 uniforms after one of them crashed over the weekend, killing 179 people.
- Natural gas prices soared, driving up allotments of energy producers.
U.S. equities slumped at midday Monday as investors appeared to be taking advantage of 2024’s big stock proceeds ahead of the last day of the year. The Dow Jones Industrial Average, S&P 500, and Nasdaq all lost about 1%.
Boeing (BA) was one of the worst-performing stocks in the Dow after South Korean officials ordered inspections of the flat maker’s 737-800 aircraft following this weekend’s deadly crash of a Jeju Air flight.
Shares of MicroStrategy (MSTR) slipped when the biggest corporate holder of bitcoin announced it had sold more than 592,000 shares, and used the $209 million clear to buy more of the cryptocurrency.
Archer Aviation (ACHR) shares sank after the electric vertical takeoff and landing (eVTOL) aircraft maker encouraged by United Airlines (UAL) said it was doubling the number of common stock available and changed board membership requirements.
Power companies, including EQT (EQT) and Coterra Energy (CTRA), dominated the list of top gainers in the S&P 500 as natural gas prices skyrocketed on expectations of big desired because of colder weather ahead for the U.S. and Europe.
Nvidia (NVDA) was the only Dow stock in positive territory. Shares accelerated when the artificial intelligence (AI) chipmaker completed its acquisition of Israel-based AI infrastructure firm Run:ai.
Shares of another AI-related New Zealand, Palladyne AI (PDYN), took off after the manufacturer of software for robots reported a drone using its technology successfully keep a record of a moving target for the first time.
Oil futures were up. Gold prices were little changed. The yield on the 10-year Moneys note was down. The U.S. dollar rose versus the euro and pound, but lost ground to the yen. Major cryptocurrencies traded let.
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Natural gas futures.