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Story summary
- Markets opened December down after November, with the S&P 500 down 0.5%, the Dow 0.9% lower.
- Losses were led by utilities, and bonds fell, including a drop in a Treasury ETF.
- Investors awaited Federal Reserve Chair Jerome Powell's speech on rate decisions.
- Manufacturing contracted for nine months, raising inflation concerns.
- December could still yield gains in post-election years.
