Dow Jones ends below 44,000 points for 1st time in 14 sessions

US indices declined on Thursday as the yields on 10-year and 30-year Treasury bonds jumped to their highest levels since Nov. 22. This came as markets assessed the higher-than-expected rise in the Producer Price Index (PPI) last month.

The Dow Jones Industrial Average declined 0.55%, or 234 points, to settle at 43,914, closing below the 44,000 point-mark for the first time since Nov. 21.

The S&P 500 index shed 0.55%, or 32 points, to 6,051 points. The Nasdaq Composite Index also lost 0.65%, or 132 points, to 19,902 points.

Similarly, the STOXX Europe 600 shed 0.15% to 519.2 points, as shares of mining firms lost 1.6%.

CAC 40 Index kept flat at 7,420 points. FTSE index gained 0.1% to 8,311 points. Germany’s DAX index added 0.15% to finish at a record high of 20,426.

The Nikkei index leapt 1.2%, or 476 points, to 39,849 points. The broader Topix advanced 0.85% to 2,773 points.

On oil, Brent crude for February 2025 delivery fell by 0.15% or 11 cents to $73.41 a barrel.

Meanwhile, US WTI crude futures for January 2025 delivery declined by 0.4% or 27 cents to $70.02 per barrel.

Prices of gold for February 2025 delivery dropped by 1.7% or $47.3 to $2,709.4 per ounce.

Economic data revealed that the Producer Price Index (PPI) rose by 0.4% in November.