2025 closing day: US stock index futures fell across the board, technology stocks came under pressure, gold and silver both declined, spot silver fell nearly 6%, and crude oil edged higher.

```

On the last trading day of 2025, U.S. equity index futures collectively slid, and technology stocks were under pressure in U.S. pre-market trading. Gold and silver declined, with silver plunging nearly 6%.

On December 31, market trading was light due to holiday factors, with mixed movements in European stock indexes. U.S. bonds and the dollar were basically flat; gold, silver, and oil all fell, while cryptocurrencies rose. Major global exchanges shortened trading hours on the last trading day of 2025; Japan, South Korea, and Germany were closed, and France and the UK closed early.

For those expecting a "Santa Claus rally" which did not materialize, Markets Live macro strategist Brendan Fagan analyzed that as the year-end approaches, market dynamics are affected more by divergence than by direction, which has somewhat curbed risk appetite, although underlying resilience still broadly supports the U.S. stock market.

Key market movements are as follows:

Dow futures fell 0.15%, S&P 500 futures fell 0.26%, Nasdaq futures fell nearly 0.4%.

UK FTSE 100 Index opened up 0.1%, French CAC 40 Index up 0.4%, Spanish IBEX Index down 0.3%.

The U.S. 10-year Treasury yield fell by 1 basis point to 4.11%

The U.S. dollar was basically flat; the euro fell 0.1% against the dollar, to $1.1731; the yen fell 0.1% against the dollar, to 156.58 yen; the offshore renminbi-dollar rate was basically flat at 6.9858; the pound fell 0.2% to $1.3436

Spot silver fell more than 5.4% to $72/ounce; spot gold fell 0.2% to $4,329/ounce; WTI crude oil rose 0.3% to $58.1/barrel

Bitcoin rose 0.3% to $88,476.81; Ethereum rose 0.2% to $2,971.16

U.S. equity index futures fell collectively. Singular Bank's Head of Strategy, Roberto Scholtes, said:

Given the excellent returns throughout the year in the stock market and overall market holdings approaching their phase highs by the end of November, portfolios and fund managers may have started realizing profits and adjusting positions, making their portfolio allocations more aligned with benchmark indexes.

Spot silver fell more than 5.4% to $72/ounce. During the day it once fell nearly 7% to below $71/ounce. Previously, silver prices experienced fluctuations of 5% or more for the fourth consecutive trading day.

Risk Warning and DisclaimerThe market has risks, and investment should be cautious. This article does not constitute individual investment advice, nor does it take into account the special investment objectives, financial situation, or needs of any individual user. Users should consider whether any opinions, views, or conclusions in this article are appropriate for their specific circumstances. Investing based on this is at your own risk. ```