US stocks end lower in pre-holiday thinned trade

By Gokhan Ergocun

ISTANBUL (AA) - US stocks ended lower Tuesday in thin trade ahead of the New Year’s holiday.

The Dow Jones Industrial Average fell 0.20%, or 94.87 points, to close at 48,367.06.

The Nasdaq fell 0.24%, or 55.27 points, to 23,419.08, while the S&P 500 lost 0.14%, or 9.50 points, to 6,896.24.

The Volatility Index (VIX), also known as the "fear index,” rose 0.92% to 14.33.

Markets will be closed Thursday for New Year’s Day, operating normal hours on New Year's Eve.

Investors closely followed the minutes of the Federal Open Market Committee (FOMC) meeting held on Dec. 9-10, which were released Tuesday.

They showed that some Fed officials considered it appropriate to keep the policy rate unchanged for a while after the December cut.

Markets are now assigning an 85% probability that the Fed will keep rates unchanged at its January meeting.

On the corporate side, Facebook and Instagram parent company Meta's shares rose 1.1% following news that the company had agreed to acquire Singapore-based AI startup Manus for over $2 billion.

Additionally, US media reported that Warner Bros. Discovery is expected to reject Paramount's revised acquisition offer.