NEW YORK (dpa-AFX) – After price hikes earlier in the week, investor fears over a sharp rise in interest rates resumed on Wall Street on Tuesday. With the upcoming US Federal Reserve decision on Wednesday, many investors have once again avoided the risk.
The leading Dow Jones Industrial Index it was down 1.12 percent three hours before the end at 30,673.67 points. Previously, the stock market barometer approached the pre-weekend low since mid-July, but then recovered slightly.
The S&P 500 at the market level it lost 1.10 percent to 3856.85 points. The Nasdaq 100 Technology Index
this time it fell a little less sharply by 0.63 percent to 11,877.69 points.
The day before, many market participants had hoped for bargains and brought noticeable profits to Wall Street in a final sprint. “It was a very volatile start to the week of trading and looks set to continue for the next few days,” wrote Craig Erlam, market strategist at broker Oanda. Several central banks have lined up to tackle inflation with “big” interest rate hikes. Investors face a “turbulent week”.
Eyes focused above all on the Fed’s decision, as Thomas Altmann, market expert at QC Partners points out. In his opinion, an even larger increase of a full percentage point would surely send shockwaves through the markets. A positive sign, on the other hand, is that bargain hunters are also striking in these times, like the day before in late US trading. As long as buyers wait for adequate entry, a sharp drop in prices is unlikely, Altmann explained.
Among the individual stocks at the end of the Dow were Nike stocks
On. They were weighed down by a Barclays downgrade from “Overweight” to “Equal Weight” and have slipped to their lowest level since mid-July. According to experts from the British bank, the sporting goods manufacturer faces a series of headwinds, such as falling demand, rising inventories and market fluctuations in China. More recently, the minus of newspapers was four percent.
Ford suffered even greater price losses of more than ten percent
after the disturbing corporate news of the previous evening. The automaker had forecast a massive drop in profits for the current quarter compared to the previous quarter. On the one hand, inflation is driving supplier costs up by a billion dollars more than expected. Additionally, bottlenecks in major parts are likely to increase inventory of semi-finished vehicles, the group had warned. Also General Motors were involved in these statements, and the competitor’s actions fell by four percent.
In addition, acquisition plans in the healthcare sector have caused a stir. For some time now, the Unitedhealth insurer
Change Healthcare swallow, a payment processor for the healthcare industry. The day before, a judge cleared antitrust objections from the Justice Department, making the $ 7.8 billion acquisition more likely. Shares of Change Healthcare rose 6.4%. Unitedhealth shares fell 0.2%, but was the third best Dow value.
The documents of the Biontech corona vaccine manufacturer
and Modern they recovered slightly from the previous day’s price drops, justified by the fact that US President Joe Biden declared the crown pandemic over. For Moderna it was 3.3 percent up, for Biontech at least 1.2 percent.
Shares of Netflix were a major winner on the Nasdaq stock exchange , which for some days have been gaining favor with investors. For the first time in more than a month, the price briefly hit the $ 250 mark, most recently the streaming provider’s titles jumped 2.5%.
Apple rose 1.2 percent to the top of the Dow. To protect its profitability, the iPhone maker announced significant price increases for apps and in-app purchases, from Europe to Asia
ISIN US2605661048 XC0009694271 US6311011026 US78378X1072
AXC0308 2022-09-20 / 19: 28
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