Federal Reserve Chairman Jerome Powell’s statements about slowing the pace of interest rate hikes have played a major role in reassuring markets, especially the shares of tech giants, which control the market’s up-and-down movement. its great weight and the first impact on the movement of stock indexes.
For example, a rise in Apple’s stock yesterday’s session by about 5 percent would be enough to act as leverage for other stocks, especially since the company’s market value is $2.35 trillion.
This was particularly reflected in the Nasdaq Composite Index, which is dominated by technology companies, which finished with a monthly gain of 4.3%.
As for the Standard & Poor’s 500 index, it closed with a monthly rise of 5.4%.
The rally in markets coincided with a drop in fear levels across the Volatility Index from the 26 level to the 20 level, far from the panic levels seen in October, which were around 35.
After a series of successive declines that reached 8 months, the price of gold soared, posting increases of more than 8% in November, and it was its best month in more than two years, and it is getting closer and closer to the $1,800-per-ounce levels.
As for the dollar index, it suffered a sharp monthly loss of more than 6 percent, the most violent in 12 years, accompanied by sharp increases in the euro and the yen against the dollar.
As for cryptocurrencies, Bitcoin managed to get back above the $17,000 levels again, but it always suffers from bankruptcy news affecting companies, and the market value of the cryptocurrency leader has reached $328 billion, but still loses about a trillion dollars compared to what it was a year ago.
