Market Recap: Fed Rate Cuts, Nvidia Decline, and Walmart's Recognition
December 21, 2024 - 03:04
The week of December 16th proved to be tumultuous for investors, marked by significant developments in the financial landscape. The Federal Reserve made headlines by cutting its benchmark interest rate by 25 basis points, a decision that was largely anticipated. However, the central bank's projection of only two additional rate cuts for the following year caught many off guard, leading to a sharp decline in the markets. The Dow Jones Industrial Average experienced a staggering drop of over 1,000 points in response.
In the tech sector, Nvidia's shares fell into correction territory, experiencing a decline of more than 10% from their recent peak. Despite this downturn, Nvidia's stock has surged an impressive 172% throughout the year, reflecting its strong performance in the technology market.
Amidst these fluctuations, Walmart received accolades as Company of the Year, with General Motors recognized as the Surprise of the Year. Nvidia's Blackwell platform earned the title of Product of the Year, while Robinhood was celebrated as the Comeback of the Year. These recognitions highlight the ongoing competition and innovation within various industries, even as market conditions remain volatile.
MORE NEWS
February 22, 2026 - 22:14
Opinion - Efforts to fight online financial scams are missing the markCurrent efforts to protect consumers from online financial fraud are increasingly seen as misdirected. While large technology and social media companies are often the primary targets of regulatory...
February 22, 2026 - 07:31
He Moved From California To South Carolina And Says His Life Changed Overnight. 'I Went Straight From Living In A Motel To Owning A Home Here'For years, he worked nonstop in California. He graduated from high school there, worked 40 to 80 hours a week while attending college, drove cars that cost less than $2,000, and fixed them himself...
February 21, 2026 - 23:12
A Tennessee Man Sold His Pickup After GM Financial Said the Balance Was Zero—Now He’s Out the Truck and the CashA routine vehicle sale has spiraled into a financial disaster for a Tennessee man, leaving him without his truck and the cash he was owed. The ordeal began when the seller, after confirming with GM...
February 21, 2026 - 02:41
Nvidia earnings, Trump's State of the Union: What to WatchThe coming week promises significant developments for investors, with major corporate earnings, critical economic data, and high-profile political commentary on the calendar. All eyes will be on...