"2024 Trading Begins: Mixed Asian Markets as Investors Eye Economic Signals"

Wall Street experienced a weak start to 2024, with the S&P 500 dropping 0.6% and tech giants like Apple and Tesla seeing losses, while healthcare stocks like Moderna and Amgen performed better. The market is reacting to the Federal Reserve's potential interest rate cuts amidst expectations of a mild recession and a cautious approach to avoid the mistakes of the 1970s. Deutsche Bank economists predict a 1.75 percentage point cut in the Fed's main interest rate, while also anticipating a weaker job market. The U.S. manufacturing industry showed signs of contraction, and global markets had mixed responses, with declines in Hong Kong and Shanghai, but gains in South Korea.