By Marcin Frąckiewicz
Publication Date: 2025-12-12 18:00:00
Updated: 12:30 p.m. ET (Friday, Dec. 12, 2025)
U.S. stocks are pulling back at midday after a record-setting week for major benchmarks, with technology and AI-linked names leading the decline as investors reassess the pace—and profitability—of Big Tech’s massive AI buildout. Around 12:30 p.m. ET, trading action shows a clear split: the Nasdaq-heavy trade is under pressure, while the Dow’s more value-oriented mix has held up better than tech as money rotates across sectors. [1]
The backdrop is unusually complex for late December: the Federal Reserve just delivered its third straight quarter-point cut, but markets are now turning to a backlog of economic reports delayed by a 43-day federal government shutdown—a looming “data dump” that could reset rate expectations and volatility into year-end. [2]
Stock market snapshot at 12:30 p.m. ET
With live index levels moving quickly, ETF proxies show the shape of the midday tape:
- S&P 500 proxy (SPY): down…
