Disastrous start to trading on Wall Street – US stock markets rally

0
13


Monday’s start brought only one thing for Wall Street investors: falling prices everywhere. The US standard price index, the Dow Jones, fell almost two percent. The S&P 500 and the more tech-heavy Nasdaq also fell nearly three percent. They were quoted as low as they were about a year and a half ago.

The price decline was driven by inflation and economic concerns, which had already intensified the crash on the US stock exchanges on Friday. US inflation hit its highest level in more than 40 years in May. Consumer prices rose by 8.6 percent compared to the same month last year. Economists had expected inflation to remain unchanged at 8.3 percent. Also, consumer sentiment fell to a record low in June amid high inflation.

iShares Nasdaq-100 (N)

The US stock market also started the week with falling prices.

“After the fall in the US inflation rate in April, it was speculated that the peak had been passed,” wrote Commerzbank analyst Christoph Balz. With renewed growth it was done.

“Inflation and interest rate expectations are again supported, especially as oil prices remain higher-than-expected and petrol prices have continued to rise in recent weeks,” said Ralfsirkull, analyst at Landbank Hessen-Thüringen. Said. Therefore, the US Federal Reserve intends to raise interest rates by 0.5 percentage points next week.

dx collapses too

The crash on the German stock markets continued on Monday. There is no improvement in sight amid high inflation, interest rate fears and fears surrounding the slowdown.

The Dex closed 2.43 percent lower at 13,427.03 points. In the course of trading, Germany’s leading index slipped just below the May low of 13,380.67 points. The barometer on the stock markets has meanwhile returned to the downward trend that has been declining since the beginning of the year. The MDX for medium-sized stocks fell 3.57 percent to 27,742.35 points.

source

LEAVE A REPLY

Please enter your comment!
Please enter your name here