Boerse Express – New York Stocks: Losses

NEW YORK (dpa-AFX) – After the previous day’s gains, prices on the US stock exchanges fell again on Thursday. Wednesday’s hope of a rapprochement between Russia and Ukraine was initially dashed. The meeting of the foreign ministers of both countries in Antalya, Turkey did not bring any significant progress. The Dow Jones Industrial recently lost 0.62 percent to 33,079 points.

The market-wide S&P 500 fell by 0.69 percent to 4248 points. The tech-heavy Nasdaq 100 fell slightly more sharply, down 1.31 percent to 13,561 points. Rising capital market yields, which can make it more expensive to refinance high-growth tech companies, had a negative impact here.

The recently sharp rise in energy prices and the resulting inflation are fueling concerns about a weaker economy. That puts the focus on the central banks. The European Central Bank (ECB) reacted to the high inflation this Thursday and is now putting the brakes on its bond purchases faster than planned.

On the markets, this is taken as a signal that, despite all the economic risks, the days of loose monetary policy are coming to an end. “In the coming week, the Fed will present its interest rate decision and also take into account the latest inflation developments,” wrote market observer Andreas Lipkow from Comdirect. Consumer prices in the US rose almost eight percent in February. US Federal Reserve Chairman Jerome Powell had promised an interest rate hike for March even after the attack on Ukraine.

On the commodity markets, prices rose again after the heavy losses of the previous day. As a result, many of the midweek winners and losers switched places again, and oil and other commodity stocks were in demand again. Technology stocks, on the other hand, were back on the sell lists, Microsoft Apple
and Cisco lost up to three percent in the Dow.

Amazon was in view because of a planned stock split, and the online trading giant has also announced that it will buy back its own shares for up to ten billion dollars. Amazon shares gained more than six percent./bek/he

 ISIN  US2605661048  US6311011026  US78378X1072

AXC0430 2022-03-10/20:31

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