Wall Street’s holiday cheer ended abruptly on Friday as all three main benchmarks closed lower in a broad-based sell-off, impacting even tech and growth stocks that had been driving the market higher. The decline broke the Dow Jones Industrial Average’s five-session winning streak, following its worst losing stretch since 1974. The S&P 500 lost 65.34 points, the Nasdaq Composite lost 294.69 points, and the Dow Jones Industrial Average fell 321.73 points, with investors taking profits and rebalancing portfolios ahead of the new year, thwarting the seasonal Santa Claus rally.
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Would you take on a 40-year mortgage? One in three Aussies would
New research suggests that one in three Australians would consider taking on a 40-year mortgage to reduce their monthly repayments, despite experts warning that this could lead to hundreds of thousands more in interest costs. While only four lenders in Australia offer 40-year loans, these options are primarily targeted towards first-home buyers. Although extending the loan term may lower monthly repayments, it could significantly increase the overall cost of the mortgage, with Finder's head of...
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