Newmont Plunges 9.4% to Lowest Since December on Fed Signal
Newmont's shares fell 9.4% after the Fed signaled only one 2026 rate cut, hitting their lowest level since December and marking the biggest one-day drop since April 2024. The slide breached the 126-day moving average as put option volume doubled and the March 100 strike led activity.
1. Market Reaction and Price Movements
Shares of Newmont fell 9.4% to trade around $96.70, marking their steepest one-day decline since April 2024 and pushing them 27.8% below the January 29 record high of $134.88.
2. Technical Indicators
The drop drove the stock to its lowest level since December and caused it to breach its 126-day moving average for the first time since April, flipping the year-to-date performance to near breakeven after being up 103% year over year.
3. Option Activity
Put option volume surged to 3,431 contracts—double the typical volume for this point in the day—while the March 100 put was the most traded, contributing to a 10-day put/call volume ratio ranking in the 97th percentile and a SOIR of 1.37 in the 92nd percentile.
4. Fed Influence and Macro Factors
The selloff followed the Federal Reserve’s decision to maintain rates and signal only one cut in 2026, as persistent inflation concerns, red-hot oil prices and geopolitical risks from the U.S.-Iran conflict fueled profit taking in gold mining shares.