US equity indices closed trading session on Friday 23 September 2022 (the end of trading week) on a steep decline, hit by recession fears along with efforts to control inflation following the US Federal Reserve’s decision to hike the rate of interest of 75 basis points for the third consecutive meeting.
American indices in the session on Friday 23 September 2022
The Dow Jones Industrial Average fell during trading on Friday, by 1.6 percent, or 486 points, to close below the 30,000-point level, posting 29,590 points, the lowest level in a year.
The broader “Standard & Poor’s 500” index also fell 1.7%, or 64 points, to record 3,693 points.
The “Nasdaq” index fell 1.8%, or 199 points, to register the level of 10,867 points.
Strong rise in the US dollar
The US dollar index witnessed strong gains today, reaching its highest level in 20 years, with the pound falling to its lowest level in 37 years following the announcement of a UK government plan to cut taxes that threaten to accelerate inflation and raise debt levels.
Read also .. US equities decline at close of trading on Thursday, September 22, 2022
The performance of US shares in the session on Friday 23 September 2022
Shares in the energy sector took heavy losses during trading on Friday, with oil prices down 5% as “Marathon Oil” shares fell 10.9% and “Chevron” and “Exxon Mobil shares. “decreased by 6.5% and 5.3% respectively. .
Goldman Sachs lowered the target for the US equities S&P 500 index this year due to higher interest rates.
Read also .. US equities fell at close of trading on Wednesday following the Fed’s decision to raise interest rates
European and Japanese equities in the session on Friday 23 September 2022
As for the European markets, in the session of Friday 23 September 2022, the “Stoxx 600” index fell by 2.3%, equal to 9 points, reaching the level of 390 points, and the French “CAC” index fell by 2.3% about 135 points, registering the level of 5783 points.
The German “DAX” index fell 2% by around 247 points to 12,284 points, and the British “FTSE 100” index fell by around 2%, or the equivalent of 140 points, to record 5783 points.
In Japan, Japanese stock exchanges are closed for a public holiday today in observance of the autumn equinox.
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