Dow Jones Index Swings More recently, it fell more than 100 points, fell 31,000 points as investors watched US economic data. This indicates the direction of the US Federal Reserve (Fed) interest rates.
At 11:26 pm Thai time, the Dow Jones Industrial Average was 30,977.47 points, minus 157.62 points, or 0.51%.
Energy stocks lead the market As the price of oil plummeted more than 3% today.
The stocks of the financial group rose against the market. Because it is the group that benefits from the increase in the interest rate.
The US released better-than-expected retail sales data in August. While the number of people applying for unemployment benefits was lower than expected last week. The New York Fed said its manufacturing index was higher than expected in September. And the Philadelphia Fed revealed lower-than-expected manufacturing indices.
Furthermore, the trade was put under pressure by a rebound in US Treasury yields. among forecasts that the Fed will raise interest rates to at least 0.75% at next week’s monetary policy meeting.
The two-year US Treasury yield is sensitive to the Fed’s monetary policy. It continues to rise above 3.8% today and is above the 10-year and 30-year US Treasury yields.
Short-term bond yields bounce higher than long-term yields As a result, the US bond market has an inverted yield curve, signaling a recession. Amid the Fed’s accelerating rate hike
CME Group’s latest FedWatch tool indicates investors weighed 80% that the Fed would raise interest rates by 0.75% to 3.00-3.25% at the 20- September 21 and weighted by 20% relative to the Fed hike. Interest rates increased by 1.00%
If the Fed raises interest rates by 0.75% in September, it will raise interest rates by 0.75% for the third time after raising 0.75% in both June and July.
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