Wall Street dips as 2025 wraps up

US stock indexes fell at the open on Wednesday — the final trading session of 2025 — although Wall Street remains on track to post strong annual gains.

Technology stocks came under increasing pressure amid profit-taking as the year draws to a close.

Minutes from the Federal Reserve’s latest meeting, released on Tuesday, revealed a sharp divide among policymakers over the decision to cut interest rates earlier this month.

The minutes also showed that policymakers supported further rate cuts if inflation slows over time, in line with expectations.

Forecasts from 19 officials who attended the December meeting — including 12 voting members — pointed to the possibility of one additional rate cut in 2026 followed by another in 2027, which could bring the policy rate down to around 3%, a level officials consider “neutral,” meaning it neither restrains nor significantly stimulates economic growth.

In trading, the Dow Jones Industrial Average fell 0.3%, or 158 points, to 48,206 as of 16:14 GMT. The broader S&P 500 declined 0.3%, or 23 points, to 6,873, while the Nasdaq Composite dropped 0.3%, or 80 points, to 23,339.