The S&P 500 closed down 0.7% on Wednesday, with all sectors lower. Despite this, the S&P 500 recorded annual gains for the third year in a row. The Nasdaq 100 index fell 0.8%, and the US Tech Big Seven Index fell 0.7%. The S&P 500 index rose 16% for the full year of 2025, with increases of more than 20% in the previous two years. US stocks fell sharply in April, when the tariff policy introduced by US President Donald Trump exceeded market expectations. Trading was light and fluctuation was limited in the last few trading days of 2025, and the “Santa Claus Market” expected by the market did not occur. Wednesday's trading volume was about 45% lower than the 20-day average.

The S&P 500 closed down 0.7% on Wednesday, with all sectors lower. Despite this, the S&P 500 recorded annual gains for the third year in a row. The Nasdaq 100 index fell 0.8%, and the US Tech Big Seven Index fell 0.7%. The S&P 500 index rose 16% for the full year of 2025, with increases of more than 20% in the previous two years. US stocks fell sharply in April, when the tariff policy introduced by US President Donald Trump exceeded market expectations. Trading was light and fluctuation was limited in the last few trading days of 2025, and the “Santa Claus Market” expected by the market did not occur. Wednesday's trading volume was about 45% lower than the 20-day average.