Dow Jones Industrial Average Drops 180; S&P Suffers 4th Straight Loss

The bearish stars aligned early on for the Dow Jones Industrial Average (DJIA) and its index peers. In the wake of Friday's stellar jobs data, soaring expectations for a December rate hike translated into an uphill battle for U.S. stocks. On top of that, dismal trade data out of China and a downwardly revised global growth forecast from the Organisation for Economic Cooperation and Development (OECD) fueled concerns about the collective economy. Against this backdrop, traders headed for the sidelines, with the Dow and Nasdaq Composite (COMP) ending notably lower, and the S&P 500 Index (SPX) dropping for a fourth straight day.

Continue reading for more on today's market, including: 

• What Citron Research's big tweet has to do with the stock Bill Ackman deemed an "extraordinary bargain." 
• Not even endorsements from Jim Chanos and Goldman Sachs could keep this Chinese Internet name out of the red.
• Are shorts hitting the bricks on GoPro Inc (NASDAQ:GPRO) and its top supplier?
• Plus ... More hawkish Fed comments, the IPO kindling interest, and a rough day for Priceline Group Inc (NASDAQ:PCLN).

The Dow Jones Industrial Average (DJIA - 17,730.48) was down nearly 243 points at its session low, but pared its loss to 179.9 points, or 1%, by the close. However, the blue-chip index still ended in the red on a year-to-date basis, and gave up a perch atop its 10-day moving average for the first time since Sept. 30. Just DuPont (NYSE:DD) and Walt Disney Co (NYSE:DIS) finished higher, adding a respective 1% and 0.6%, while Caterpillar Inc. (NYSE:CAT) paced the 28 declining blue chips, dropping 2.6%.

The S&P 500 Index (SPX - 2,078.58) suffered a similar fate, dropping 20.6 points, or 1%, to land beneath its own 10-day trendline for the first time since Oct. 1. The Nasdaq Composite (COMP - 5,095.30) slipped 51.8 points, or 1%, to end south of 5,100 for the first time in November, and beneath its 10-day moving average for the first time since Oct. 21. 

The CBOE Volatility Index (VIX - 16.52) rallied 2.2 points, or 15.3%, marking its first finish above 16 since Oct. 21. It was also the first settlement atop both its 10- and 20-day moving averages since Sept. 30.

5 Items on Our Radar Today:

1. Boston Fed President Eric Rosengren looked to December for a probable rate hike. The usually dovish policymaker said recent data suggests the economy is strong enough for a change in rates next month. (Reuters)
2. IAC/InterActiveCorp's (NASDAQ:IACI) Match Group -- owner of dating sites Match.com, OKCupid, and Tindr -- said it plans to raise as much as $466 million in its initial public offering (IPO). The stock will trade on the Nasdaq under the symbol MTCH. (USA Today)
3. This automaker got some positive attention after Barron's predicted a 40% return by 2017.
4. FireEye Inc (NASDAQ:FEYE) suffered from more bearish brokerage notes in response to last week's disappointing revenue forecast. 
5. A lower-than-expected current-quarter outlook meant a rough day on the charts for PCLN.  

Commodities:

After falling nearly 5% last week, December crude oil endured another loss today, settling down 42 cents, or 1%, at $43.87 a barrel. The downtrend is a result of increasing stockpiles and ugly data out of China, which overshadowed upbeat demand predictions from the Organization of the Petroleum Exporting Countries (OPEC). Meanwhile, United Arab Emirates announced it would go ahead with new energy projects, betting on a recovery in oil prices next year.

Gold finally ended its seven-session losing streak, with December futures finishing just 40 cents, or 0.04%, above breakeven, at $1,088.10 an ounce. While the metal's value remains close to a three-month low amid increased expectations for a December rate hike, a softer dollar and "safe haven" demand helped gold eke out a win.