Tech Slide Weighs on Nasdaq; Oil Prices Gain

California Resources has successfully completed its acquisition of Berry Corp, resulting in the delisting of Berry Corp's shares from the Nasdaq stock exchange. This strategic move is part of California Resources' efforts to enhance its operational capabilities and market position.

U.S. natural gas futures experienced a decline, settling lower after initially gaining in a volatile trading session. This fluctuation reflects ongoing uncertainty in the market, influenced by changing weather forecasts and demand expectations.

Darden Restaurants reported an increase in fiscal second-quarter sales and profit, raising its full-year sales-growth guidance while managing to mitigate the effects of rising beef prices.

The U.S. dollar weakened following the November inflation report, which indicated slower price increases, leading to a decline in its value. This development reflects growing concerns among investors regarding the Federal Reserve's potential interest rate cuts, as market sentiment shifts in response to economic indicators.

AI-themed stocks, particularly Oracle, Nvidia, and Tesla, faced significant declines, contributing to a drop in the Nasdaq index. Each of these companies saw their shares fall by more than 3%, reflecting growing investor concerns about the sustainability of the artificial intelligence market.

The Dow Jones Industrial Average fell by 300 points following the release of jobs data indicating a rising unemployment rate, highlighting concerns about the economic outlook. Energy stocks were particularly affected, contributing to the overall decline in the blue-chip index.