S&P 500 Drops. The Market Is Headed for a Risk-Off New Year.

Core Viewpoint - The stock market experienced a decline, erasing previous gains from the Santa Claus rally, primarily driven by selling in precious metals and technology stocks [1] Market Performance - The Nasdaq Composite decreased by 0.5% - The S&P 500 fell by 0.4% - The Dow Jones Industrial Average dropped by 260 points, equivalent to a 0.5% decline [1] Investor Sentiment - Wall Street exhibited a risk-off sentiment, with low volatility exchange-traded funds outperforming the broader market [1] Bond Market - Bond prices rallied, resulting in lower yields [1]