Market Highlights

Wall Street anxiety halted a four-day rally in US stocks while Treasuries joined a global bond slump ahead of the Federal Reserve’s finalmeeting of 2025. While an interest-rate cut is all but certain, traders are growing anxious about the pace of next year’s cuts. The S&P 500 slid 0.3% Monday after the equities benchmark closed within spitting distance of an all-time high. A busy merger Monday failed to bolster the mood after President Donald Trump raised potential antitrust concerns on Netflix Inc.’s planned takeover of the Hollywood studios and streaming business of Warner Bros. Discovery Inc. and Paramount Skydance Corp. stepped in with its own hostile bid. Global stocks wavered while Treasury yields edged higher again as traders grew anxious about the pace of easing by the Federal Reserve beyond this week’s near-certain interest-rate cut.