NEW YORK (dpa-AFX) – Continuing increases in yields on the bond market and the associated concerns about business development once again caused problems for tech stocks on Friday. The leading US index, the Dow Jones Industrial (Dow Jones 30 Industrial), recovered somewhat from its recent losses.
The Dow rose 0.40 percent to 34,721.12 points. On a weekly basis, however, this results in a minus of 0.28 percent. The broader S&P 500 was down 0.27 percent on Friday to 4488.28 points. The tech-heavy NASDAQ 100 fell 1.41 percent to 14,327.26 points. His weekly minus amounts to 3.6 percent.
The bond markets and the stock exchanges are currently dominated by monetary policy in particular. A series of rate hikes is expected from the Federal Reserve this year to combat high inflation. In addition, the Fed wants to start reducing its trillion-dollar balance sheet as soon as possible.
Both developments are causing interest rates to rise sharply on the capital markets. Risky assets like stocks suffer as fixed income bonds become increasingly attractive. In addition, it is feared that sharply rising interest rates will make loans significantly more expensive for companies and consumers, thus slowing down economic growth./la/he
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