NEW YORK (dpa-AFX) – Due to ongoing political and economic risks, the US stock markets are likely to start the new week with losses. Around an hour before the start of trading, broker IG rated the Dow Jones Industrial (Dow Jones 30 Industrial) 0.4 percent lower at 34,575 points. The NASDAQ 100 was last indexed 1.2 percent lower by IG.
After the US Federal Reserve signaled drastic interest rate hikes and a reduction in total assets last week in order to dampen price pressure, the challenges for the stock exchanges have increased again. “Today, the mantra of many investors is ‘don’t fight the Fed when it fights inflation,'” commented Ed Yardeni of Yardeni Research.
In addition, market sentiment continues to be clouded by the massive negative consequences of the war in Ukraine and the prospect of an economic slowdown. In addition, the Covid-related lockdowns in China threaten to exacerbate global supply chain problems and thus further fuel inflation risks.
The strict corona restrictions in the Middle Kingdom led to a significant drop in oil prices on Monday. As the number of infections rose, the lockdowns threatened to last even longer, explained commodity expert Barbara Lambrecht from Commerzbank. Most recently, restrictions in the metropolis of Shanghai had caused a stir. Accordingly, oil stocks on Wall Street were in poor shape premarket: Chevron fell 1.5 percent and ExxonMobil 1.7 percent.
Among the individual values, the shares of Twitter are likely to be the focus of investors. Premarket they lost 2.6 percent. Tech billionaire Elon Musk will not take an official post with the short message service after all. The appointment was officially supposed to come into effect on April 9, “but Elon announced the same morning that he would no longer join the board of directors,” wrote Twitter boss Parag Agrawal on Monday night. At the beginning of April it was announced that Musk had become Twitter’s largest shareholder with a stake of 9.2 percent./edh/jha/
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