The main indicators of Wall Street continue to be in deep red in Monday’s trading after last week’s slump as worries about the rapid spread of the micron dominate at the beginning of this week as well.
Top US epidemiologist Anthony Fauci said Sunday that he expects a new record for Covid-19 cases this winter and called on citizens to be vaccinated with the third dose to protect themselves. US President Joe Biden is also expected to warn in tomorrow’s sermon about the dangers of the rapid spread of the micron.
Meanwhile, the rapid spread of the micron in Europe has forced many governments to reinstate strict restraint measures to stem the pandemic, with the Netherlands implementing a total lockdown until January 14 to prevent the fifth wave of the pandemic.
Indicators – Statistics
On the board, the industrial Dow Jones lost 648.60 points or -1.83% to 34,716.84 points, while the broader S&P 500 fell 82.23 points or -1.78% to 4,538.41 points. The technology Nasdaq drops 298.72 points or -1.97% to 14,872.27 points.
Of the 30 stocks that make up the Dow Jones industrial average, only Procter & Gamble is moving with a positive sign, with small gains of 0.19% at $ 157.76.
The three stocks with the biggest losses are the Travelers (-3.69%), Goldman Sachs Group (-3.60%) and Caterpillar (-3.45%).
The Dow Jones industrial average lost more than 500 points on Friday, ending the week with a total loss of 1.7%. The broader S&P 500 fell 1.9% on a weekly basis, while the tech Nasdaq fell 3%.
Last week’s losses followed the Federal Reserve’s policy adjustment at its last meeting for 2021, with the central bank now seeing three interest rate hikes to curb inflation that has soared to a near 40-year high.
The Fed has announced that it will accelerate the decline in monthly bond purchases in order to be able to start raising interest rates earlier next year.
Meanwhile, the climate today was aggravated by the negative developments around the investment package of 2 trillion. dollars that President Biden wants to promote for the modernization of the country’s infrastructure.
The package would give a strong fiscal boost to the economy. However, Democratic Sen. Joe Manchin said Sunday that he could not support the package, leading to a stalemate in negotiations and a major political defeat for President Biden.
Goldman Sachs downgraded its US growth forecast for 2022, citing difficulties in passing the spending bill.
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