Crypto-related stocks faced another challenging session, despite Bitcoin (BTC) posting gains. MicroStrategy (MSTR) fell 4.40%, while Marathon Holdings (MARA) fell 3.01%.
Nevertheless, it was an excellent year, with the Nasdaq and S&P 500 up 29% and 23% respectively, while the Dow Jones rose 13% in 2024.
Tuesday’s US market session could influence Thursday’s Asian markets.
US figures point to economic risks
On Tuesday, data from the housing sector pointed to a possible setback in consumer confidence. The S&P/Case-Shiller home price index rose 4.2% year over year in October, down from 4.6% in September.
Falling house prices could have a negative impact on consumer confidence, potentially curbing spending, which accounts for more than 60% of GDP. Weaker private consumption could have consequences for the US economy. As a key economic indicator, housing market trends remain a barometer of the broader U.S. economy.