The main Wall Street index started the week with losses after last week’s heavy losses as investors remain worried about the outlook for the economy amid the successive increases in US interest rates that the Federal Reserve plans for the coming months in order to face the jump. of inflation to high over 40 years.
On Friday, the Dow Jones industrial average fell 981 points, or 2.8%, to its worst decline since October 28, 2020. The broader S&P 500 also plunged 2.8%, while the tech Nasdaq lost 2.6%. per week, the Dow lost 1.9%, while the S&P 500 fell 2.8%. The Nasdaq fell 3.8% overall.
Investors’ concerns were exacerbated by statements by Fed Chairman Jerome Powell, who appeared to support a 50 basis point increase in interest rates, instead of the traditional 25-point increase. at the next central bank meeting in May.
At the same time, the decision of the Chinese authorities to extend the mass lockdowns for the suspension of Covid-19 has brought back to the fore the concerns about the resilience of the global economy, but also about the risk of new disruptions in the global supply chains.
Indicators – Statistics
On the board, the Dow Jones lost 245.16 points or -0.73% at 33,579.45 points, while the broader S&P 500 fell 36.16 points or -0.87% to 4,234.52 points. The technology Nasdaq slips 50.98 points or -0.33% to 12,788.65 points.
Of the 30 stocks that make up the Dow Jones industrial average, only five are moving with a positive sign and 25 with a negative one. The biggest increase is recorded by Coca-Cola with gains of $ 1.16 or 1.78% at $ 66.41, followed by Johnson & Johnson at $ 184.04 with an increase of 1.38% and Salesforce with gains of 0 , 38% to $ 172.08.
On the other hand, the three stocks with the biggest losses are Verizon Communications (-3.04%), Chevron (-2.35%) and Nike (-2.23%).
Meanwhile, investors are preparing for another barrage of corporate results in the coming days. This week the investment interest is expected to be monopolized by the announcements of technology giants such as Apple, Meta Platforms, Facebook parent company, Alphabet, Google parent company, Amazon.com and Microsoft, among others.
Investors continue to follow Twitter Inc. in the aftermath of the offer of the billionaire Elon Musk for the acquisition of the company and in the middle of reports that the BoD. of the company is reviewing the takeover proposal.
Source: Capital
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
