- Concerns about President Joe Biden's economic agenda, as well as the omicron coronavirus outbreak, weighed on investor sentiment. Traders said the market's movements were exacerbated by lower volume ahead of the holidays.
- The S&P 500 fell the most in three days since September, led by losses in financial and material stocks. Bonds fell in value. The value of the dollar had hardly changed.
- Goldman Sachs economists reduced their forecasts for US growth after Democratic Senator Joe Manchin surprised the White House by rejecting Biden's roughly $2 trillion tax-and-spending package. Meanwhile, Europe's major powers debated additional COVID-19 restrictions.
