Overnight US stocks | The NASDAQ and S&P 500 indexes fell by more than 1%, while NVIDIA Corporation (NVDA.US) rose slightly against the trend.

On Monday, the three major indexes all closed lower, with the Dow Jones dropping over 400 points and the 10-year US Treasury bond yield falling from its highest level since May. The price of natural gas futures in the US surged more than 16%, with February natural gas futures closing up 16.34% at $3.9360 per million British thermal units. [US Stocks] At close, the Dow fell 418.48 points, or 0.97%, to 42,573.73; the Nasdaq fell 235.25 points, or 1.19%, to 19,486.78; the S&P 500 fell 63.90 points, or 1.07%, to 5,906.94. NVIDIA Corporation (NVDA.US) rose 0.3%, Tesla, Inc. (TSLA.US) fell 3.3%, Apple Inc. (AAPL.US) fell 1.3%. Faraday Future Intelligent Electric, Inc. (FFIE.US) surged 78%. The Nasdaq Golden Dragon Index fell 1.9%, Alibaba Group Holding Limited Sponsored ADR (BABA.US) fell 1%, XPeng, Inc. ADR Sponsored Class A (XPEV.US) fell 6%. [European Stocks] The Germany DAX30 index fell 117.78 points, or 0.59%, to 19,840.85; the UK FTSE 100 index fell 28.53 points, or 0.35%, to 8,121.25; the France CAC40 index fell 41.81 points, or 0.57%, to 7,313.56; the Euro Stoxx 50 index fell 29.43 points, or 0.60%, to 4,869.45; the Spain IBEX35 index rose 9.33 points, or 0.08%, to 11,534.63; the Italy FTSE MIB index rose 12.03 points, or 0.04%, to 34,173.00. [Asia-Pacific Stocks] The Nikkei 225 index fell 0.96%, the Indonesia Jakarta Composite index rose 0.62%, and the South Korea KOSPI index fell 0.22%. [Cryptocurrency] Bitcoin fell over 1.6% to $92,128.52, while Ethereum fell 0.77% to $3,327.32. [Gold] Spot gold fell 0.51% to $2,607.92 per ounce, with a intraday trading range of $2,628.14 - $2,596.19; COMEX gold futures fell 0.40% to $2,621.50 per ounce, with an intraday trading range of $2,640.70 - $2,608.40. [Oil] NYMEX February delivery WTI futures prices rose $0.39, or 0.55%, to $70.99 per barrel, while ICE February delivery Brent crude oil futures rose $0.22, or 0.3%, to $74.39 per barrel. [Foreign Exchange] The US Dollar Index, which measures the dollar against six major currencies, rose 0.13% to 108.132 at the end of the market. At the end of the New York market, 1 euro exchanged for $1.0397, lower than the previous trading day's $1.0428; 1 pound exchanged for $1.2544, lower than the previous trading day's $1.2582. 1 dollar exchanged for 157.09 yen, lower than the previous trading day's 157.94 yen; 1 dollar exchanged for 0.9040 Swiss francs, higher than the previous trading day's 0.9018 Swiss francs; 1 dollar exchanged for 1.4359 Canadian dollars, lower than the previous trading day's 1.4411 Canadian dollars; 1 dollar exchanged for 11.0249 Swedish krona, higher than the previous trading day's 11.0011 Swedish krona. [Metals] LME copper futures fell $72 to $8,910 per ton, LME aluminum futures fell $7 to $2,551 per ton, LME zinc futures fell $12 to $3,019 per ton, LME lead futures fell $22 to $1,948 per ton, LME nickel futures rose $104 to $15,415 per ton, LME tin futures rose $485 to $29,295 per ton, and LME cobalt futures remained flat at $24,300 per ton. [Macro News] Redfin: US November inventory of homes for sale hits a new four-year high. According to real estate company Redfin, the inventory of homes for sale in the US hit a new high since 2020 in November, increasing by 0.5% from October and 12.1% from the same period last year. Redfin stated that a major reason for the sharp increase in supply is the accumulation of unsold homes, many of which are not popular with buyers due to high prices or unsuitability for living. In November, more than half (54.5%) of listed homes had been on the market for at least 60 days without a sale. Homes priced at $650,000 or less typically have high demand, but now often remain unsold because sellers are likely to have set prices too high. Institution: US Chicago PMI softens for the third consecutive month. Analysts stated that the Chicago PMI for December in the US softened for the third consecutive month, dropping from 40.2 in November to 36.9. This month's figure is the second lowest since the start of the pandemic, only surpassed by May's 35.4, and dropped nearly 10 points from September's 46.6, indicating a significant weakening of the economy. This is contrary to some survey results we have seen since the election, as many businesses are expecting protectionist policies. However, this is consistent with other data, such as the S&P Global, Inc. Manufacturing PMI Flash (down from 49.7 to 48.3) and the Philadelphia Fed Manufacturing Business Conditions Index (down from -5.5 to -16.4). [Stock-Specific News] Fannie Mae (FNMA.US) and Freddie Mac (FMCC.US) surged 40% as industry insiders believe the two agencies are likely to be restructured.Custody. The oldest controversy on Wall Street is once again pushed to the forefront. The stock prices of the American mortgage giants Fannie Mae and Freddie Mac surged on the American OTC market, after billionaire Bill Ackman's post sparked optimism that these two companies may be able to exit federal government custody under Trump 2.0. The stock prices of the two companies rose by 40% at one point, hitting a new high since November. Ackman, who holds stocks in both companies, wrote, "What makes these two companies particularly interesting now is that there is a reliable path for them to exit custody within a relatively short period, that is, within the next two years." During Trump's first term, he had made various attempts to privatize Fannie Mae and Freddie Mac. Within a month of Trump's reelection in 2024, the stock prices of Fannie Mae and Freddie Mac rose by 116% and 143%, respectively. During the period from the end of 2007 to 2008, Fannie Mae and Freddie Mac were severely affected by the US subprime mortgage crisis, on the brink of bankruptcy. The two companies owned or guaranteed half of the total value of the US mortgage market, worth $12 trillion, too big to fail. Therefore, the US government decided to take over Fannie Mae and Freddie Mac on September 6, 2008.Antitrust investigation passed, NVIDIA Corporation (NVDA.US) officially completes acquisition of AI startup Run:ai. According to both companies confirming on December 30th, NVIDIA Corporation has completed the acquisition of Israeli AI startup Run:ai. The founder of Run:ai stated in a blog post that the company plans to open-source its software, "Although Run:ai currently only supports NVIDIA Corporation's GPUs, open-sourcing the software will enable it to expand to the entire AI ecosystem." NVIDIA Corporation and Run:ai announced the deal at the end of April this year, but did not disclose the transaction price. The European Commission announced on the 20th of this month that they unconditionally approved the proposed acquisition, believing that the transaction would not raise competition issues in the European Economic Area. Earlier reports indicated that the U.S. Department of Justice also conducted an antitrust investigation into the deal. Boeing Company (BA.US) stock price decline narrows after a Boeing Company plane crash in South Korea. Boeing Company's stock closed down 2.31%, narrowing from an earlier drop of over 5%. A Boeing Company 737-800 jet belonging to South Korea's Jeju Air crashed while landing at Wusan International Airport on Sunday, resulting in 179 fatalities. South Korean officials stated that investigators are looking into factors such as bird strikes, malfunction of the aircraft's control systems, and the pilot's attempt to land shortly after declaring an emergency as potential causes of the crash. Hargreaves Lansdown stock analyst Aarin Chiekrie said: "While the cause of the crash is still under investigation, this has brought even greater reputational damage to Boeing Company's already poor performance this year."