Overview
- DOW closed down 303.77 points at 48,063.29 on Dec. 31, marking a fourth straight decline to end the year.
- FOMC minutes from early December signaled less willingness to cut rates than investors expected, pushing up long-term U.S. yields.
- Despite the late pullback, New York stocks recorded a third consecutive annual gain for 2025, helped by strength in AI-related names.
- China’s yuan ended 2025 at 6.9890 per dollar, a 4.2% annual appreciation and the first yearly rise since 2021, supported by eased trade frictions and a larger trade surplus.
- Shanghai’s Composite Index finished at 3,968.84, up 18.4% for the year, reflecting improved sentiment as U.S.-China tensions eased after earlier tariff pressures.