Business
S&P 500 Closes Down 2.3% as Variant Spooks Investors
U.S. stocks slid in a post-Thanksgiving selloff, with the S&P 500 Index falling the most since February and the Russell 2000 sinking 3.7% over growing fears that a new coronavirus variant could impact a fragile economic recovery. Bloomberg’s Taylor Riggs and Katie Greifeld have the latest on “Bloomberg Markets: The Close.”
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Bloomberg Television brings you the latest news and analysis leading up to the final minutes and seconds before and after the closing bell on Wall Street. Today’s guests are Winnie Cisar, CreditSights Global Head of Strategy, John Medina, Moody’s Ratings SVP, Global Project and Infrastructure Finance, Tom Fitzgerald, TD Cowen VP, Equity Research, Gary Gensler, Former SEC Chair, Jeffrey Sherman, DoubleLine Capital Deputy Chief Investment Officer, Macrae Sykes, Gabelli Funds Portfolio Manager, Chad Mumm, Pro Shop Co-Founder and President, Nora Wittstruck, S&P Global Ratings Chief Analytical Officer for Governments, and Michael Chang, Clear Health CEO.
Chapters:
00:00:00 – The Close Begins
00:04:28 – Winnie Cisar, CreditSights Global Head of Strategy
00:10:28 – John Medina, Moody’s Ratings SVP, Global Project and Infrastructure Finance
00:17:05 – Top Calls
00:18:18 – Tom Fitzgerald, TD Cowen VP, Equity Research
00:23:59 – Gary Gensler, Former SEC Chair
00:40:44 – Jeffrey Sherman, DoubleLine Capital Deputy Chief Investment Officer
00:46:51 – Countdown to the Close
01:00:37 – Macrae Sykes, Gabelli Funds Portfolio Manager
01:08:05 – Ed Ludlow, Bloomberg News
01:13:42 – Chad Mumm, Pro Shop Co-Founder and President
01:21:26 – Mark Gurman, Bloomberg News
01:24:48 – Nora Wittstruck, S&P Global Ratings Chief Analytical Officer for Governments
01:31:22 – Michael Chang, Clear Health CEO
01:35:12 – What to Watch
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ASML lifted its annual sales forecast for the second time this year as a surge in artificial intelligence spending drives demand for the company’s chip-making machines. Europe’s most valuable company expects net sales to grow to between €43 billion ($49.2 billion) and €45 billion this year. Bloomberg’s Charlotte Hughes-Morgan reports.
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Mark Douglas, CEO of the ad tech company MNTN, discussed Meta’s reported ambitions to expand beyond advertising into cloud infrastructure. Douglas expressed skepticism about Meta’s ability to compete with established cloud providers like AWS and Google Cloud, citing high switching costs for customers and Meta’s lack of excess AI infrastructure capacity to monetize. He speaks with Romaine Bostick & Katie Greifeld on “The Close.”
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Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Isabelle Lee, Carol Massar and Tim Stenovec.
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Global markets remain focused on escalating tensions in the Middle East as the US and Iran exchange another round of military strikes. The US military launched a new wave of attacks targeting Iranian positions, while Iran responded with drone strikes aimed at US military positions in Kuwait. Washington says the latest operations are intended to degrade Iran’s ability to threaten commercial shipping in the Strait of Hormuz, while the IRGC claims it struck a US drone operations center at Sheikh Isa Air Base in Bahrain. The renewed conflict has left energy markets on edge as uncertainty over the Strait of Hormuz continues.
We also cover Apple’s lawsuit against OpenAI alleging trade secret theft, Nippon Paint’s $8.6 billion bid for Akzo Nobel’s paint business, reports that SoftBank is considering a stake in Seven & i Holdings, and the death of former Qatari ruler Sheikh Hamad, which comes as Senator Lindsey Graham’s political future raises fresh questions over US Senate succession.
In Asia, South Korea’s KOSPI trading was briefly halted after falling 8%, with SK Hynix leading the decline. Elsewhere, venture capital funding across the Middle East and North Africa fell 22% year over year during the first half of 2026, the UAE’s oil production reached a record high in June, and Senegal’s infrastructure plans face setbacks amid a growing debt scandal. Guests Includes John Sfakianakis, Gulf Research Center Chief Economist and Research Head; Praten Jagwani, UTI International Global Head and CEO; Philip Bahoshy, Magnitt Founder & CEO; and Chey Tae-won, SK Group Chairman
Horizons Middle East & Africa is your daily spotlight on one of the world’s fastest-growing regions. Live from Dubai, we bring you the latest global markets and analysis, plus news-making interviews, with a special focus on MEA. All that and more, as you head to the office in the Gulf, pause for lunch in Hong Kong, or start your day in London or Johannesburg.
Chapters:
00:00:00 – Introduction
00:04:50 – US, Iran Resume Strikes as Hormuz Status Disputed
00:07:58 – John Sfakianakis, Gulf Research Center Chief Economist and Research Head
00:14:18 – Praten Jagwani, UTI International Global Head and CEO
00:28:50 – Philip Bahoshy, Magnitt Founder & CEO Chey
00:34:54 – Tae-won, SK Group Chairman
00:38:54 – Energy Markets on Edge as Hormuz Tensions Intensify
00:43:00 – Debt Scandal Derails Senegal’s infrastructure Dream
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@FinancialConsultdotcodotza
January 6, 2024 at 12:06 pm
It's just making space for a move to 5000. Still very bullish
@harrychu650
January 6, 2024 at 12:06 pm
As Cathie Wood says, sell your speculative stock and consolidate into you most high conviction holding. Buy buy buy Tesla.
@mustofakamal9054
January 6, 2024 at 12:06 pm
program mesin bagus
@tnwt9965
January 6, 2024 at 12:06 pm
very buyable headline driven dip imo
@bruce-ruhldesign168
January 6, 2024 at 12:06 pm
We really doubt it has anything to do with the variant and more to do with the fact "Black Friday" wasn't as "black" as expected. Saw mostly empty stores today…empty of people…
@caleb7799
January 6, 2024 at 12:06 pm
not that these ladies aren't doing an outstanding job, but where are the men on this show?? 😂😂😂😂
@TheJ000ker
January 6, 2024 at 12:06 pm
No spooks, government insiders are selling.
@michelleclark8099
January 6, 2024 at 12:06 pm
The REAL NEWS: ⬇️⬇️
The Rich got DOUBLY rich today:
1: They sold high their stock paper today and took great cash profits 😃💰💰💰💰
2. They also will take people’s 💰😃💰😃 money today as people pay their good money for the raggedy cheap imports on Black Friday.
The rich get richer and richer and richer. And then, the rich get richer. Boom‼️
@daddyyank2940
January 6, 2024 at 12:06 pm
its not about variant its about interest rates are going up tapering
@stressful5555
January 6, 2024 at 12:06 pm
HEX buy it
@rudyinthesky4967
January 6, 2024 at 12:06 pm
The end is near! Yea!
@emilioblomqvist8630
January 6, 2024 at 12:06 pm
<Cryptocurrency prices are notoriously volatile and it might be too early to tell whether the latest dip marks the start of a reversal of the 2021 bull market, or if it's just a correction on the way to new all-time highs. The one area of concern is that the move lower has seen crypto assets fall out of its multi-week ascending channel, turning the technical outlook from positive to neutral. While the long-term growth of digital assets still looks strong, the short-term correction has increased panic in the market…It doesn't matter if you are a current hodler or a new investor, you can always capitalize on the volatility of Cryptocurrencies by trading with the guidance of a professional. I have been trading Crypto for less than a month now and I was only able to make 9.2btc with signals provided by Smooth Strategy. He can easily be reached on Telegram💬as [smoothstrategy], or What'sapp✙14343741268📈☑.
@eufefo
January 6, 2024 at 12:06 pm
smokescreen
@chessdad182
January 6, 2024 at 12:06 pm
Nice. I added to my holdings.
@xMohJeex
January 6, 2024 at 12:06 pm
Buyable dip.
@imranarshad7302
January 6, 2024 at 12:06 pm
Shows how much algorithmic trading is happening by AI
@docjoei2224
January 6, 2024 at 12:06 pm
So Moderna is the source of the variants!!!
@hangender
January 6, 2024 at 12:06 pm
Only 2%. Wake me up when it's 50%
@docjoei2224
January 6, 2024 at 12:06 pm
Didn’t Jesus say you can’t serve both G-d and mammon? What are the Salvos doing at the stock exchange??
@marekkolenda9718
January 6, 2024 at 12:06 pm
This music was playing before Dow Jones drops 34,000 points and go up 36,000 points after few weeks
@marekkolenda9718
January 6, 2024 at 12:06 pm
Next year Fed new QE to stimulate economy
@marekkolenda9718
January 6, 2024 at 12:06 pm
Next week possible Covid lockdown for next 2 weeks