Air Products, Marvell, Tesla, and Netflix are the Biggest U. S. Stock Losers Today.(December 9, 2025)

U. S. Markets Lose Big, Investors Preparing for Fed Rate Decision

Wall Street displayed a cautious approach at the beginning of Fed week, as the Dow Jones, S&P 500, and Nasdaq all went down while traders were waiting for the announcement of the Federal Reserve's interest-rate decision on Wednesday. The major indexes decreased between 0.3% and 0.5%, with only one S&P 500 sector, energy, managing to stay in the black.

Market Snapshot

Dow Jones: down approximately 0.4–0.5% to 47,739

S&P 500: down around 0.3–0.4% to 6,846

Nasdaq Composite: down about 0.1–0.2%, supported a little bit by AI-related tech stocks

Sector Performance Highlights

Technology: Only sector that gained, up about 0.5%–0.9%

Communication Services & Consumer Discretionary: Both sectors suffered most at about 1.5%–1.9%

Consumer Staples: Also under pressure despite their defensive nature

Liquidity, or the ease of buying and selling shares without affecting the price significantly, has been reduced, and thus the markets have factored in around an 85–90% likelihood of a Fed rate cut of 25 basis points.

Top Stock Losers

Air Products & Chemicals (APD): -9%

The multinational corporation specializing in industrial gases and equipment reported that it was in advanced negotiations with Yara International regarding low-emission ammonia projects in Louisiana and Saudi Arabia. During the transition to renewable sources of energy, the deal may allow Air Products to take a dominant position in the market for clean hydrogen, thereby getting the investors apathetic about the risks of potential capital intensity and long payback periods. Notwithstanding the downtrend, analysts still regard APD as a long-term hydrogen economy player.

Marvell Technology (MRVL): -7–10%

The fall of shares followed reports that Microsoft might no longer be working with Marvell on the AI chip but rather with Broadcom, leading to the company missing out on the upcoming S&P 500 additions. Analysts are warning that the concentration of major customer accounts can affect valuation, even though there is still a strong demand from the AI and cloud sectors.

Tesla (TSLA): -3–3.5%

The decline was triggered by a downgrade by Morgan Stanley, which pointed out a valuation reset and a possibly “choppy” year for EV demand and margins. The stock is one of the forerunners in the EV and energy AI markets, but investors' caution is unmistakable.

Netflix (NFLX):-3.5%

The online video service provider suffered from a competition war over content ownership. The war has been escalated, with Paramount Skydance making a hostile bid for Warner Bros Discovery to counter Netflix's $83 billion deal. Political commentary added to stakeholders’ confusion and uncertainty, resulting in a broader impact on the sector of communication services.

Nike (NKE) & Procter & Gamble (PG): -3.5–3.9%

Nike’s sales were down due to macroeconomic concerns and increased scrutiny on non-essential spending; P&G’s sales were hurt by the concession of government programs and hence the company's lower-than-expected sales. These two companies were among the largest contributors to the 258-point drop of the Dow.

Incyte (INCY): -5.7%

Despite the positive news of FDA Breakthrough Therapy, profit-taking occurred in biotech stocks such as Incyte after a strong performance since the beginning of the year. Caution with regard to news-driven biotech trades is still the main reason for volatility.

Broader Market Themes

Fed anxiety amplifies stock-specific risks: Ahead of the Fed decision, investors are very quickly ready to take on less risk.

Defensive stocks aren’t immune: Both consumer staples and healthcare stocks suffered losses, thus showing the extent of their vulnerability when the economy turns bad.

AI and chip stocks remain volatile: A fall in Marvell's stock price indicates that dependencies on winning designs and providing chips for hyperscalers can quickly influence a company's valuation.

Biotech sensitivity: Strong stock performances in biotech are often followed by a period of profit-taking even when there are positive announcements that might have initially caused