NEW YORK (dpa-AFX) – After the long weekend due to the holiday, rising bond yields weighed heavily on the US stock markets on Tuesday. Investors are increasingly expecting interest rate hikes by the US Federal Reserve due to persistently high inflation. The yield on 10-year US bonds has risen to its highest level in two years – and at the same time weighs on stocks, particularly on the technology stocks on the Nasdaq. The banking sector also had to take a beating after the investment house Goldman Sachs disappointed with its quarterly report.
Der US-Leitindex Dow Jones Industrial
slipped by 1.84 percent to 4577 points. The tech-heavy Nasdaq 100
In view of the high inflation in the USA, currently at seven percent, countermeasures by the Fed are becoming increasingly likely. Up to four rate hikes of 0.25 percentage points each are expected on the markets this year. Individual market participants can imagine even larger rate hikes. Otherwise, the Fed is threatened with a loss of credibility, some argue. Also on the horizon is the possibility that the Fed could soon scale back its balance sheet, which has ballooned to about $8.8 trillion.
Among individual stocks, shares of Activision Blizzard surged more than 25 percent. Microsoft
The investment bank Goldman Sachs
Looking at the papers from vaccine manufacturers, investors pulled the rip cord on Tuesday: Biontech
posted price losses of 7 to almost 14 percent. According to dealers, they suffered from the prospects of an improving situation worldwide in the corona pandemic./bek/stw
ISIN US2605661048 US6311011026 US78378X1072