Stock Market Update Tuesday November 12, 2024

Stock Market Update Tuesday November 12, 2024 Market screens turned an unusual red as the major indices dipped around 0.25%, signaling a modest downturn in equity markets. The Dow Jones Industrial Average declined by over 350 points on Tuesday, retreating from its recent highs as the post-election rally took a pause.

Away From Stocks: Treasuries experienced a sharp selloff after a brief reprieve on Monday, with the 10-year Treasury yield jumping 13 basis points to close at 4.43%—its highest level since early July—underscoring heightened volatility and investor caution in the bond markets.

WTI crude oil prices held steady at $68 per barrel, showing little reaction to the broader market movements. Meanwhile, gold continued to face downward pressure, trading around $2,590 per ounce, as investor appetite for safe-haven assets appeared tepid. Bitcoin remained elevated, hovering near $89,000, highlighting sustained interest in digital assets despite traditional market pullbacks. The CBOE Volatility Index (VIX) remained subdued, staying below the 15 mark, indicating restrained market anxiety even amid the day’s pullback.