The three major Wall Street indices are down three days in a row until Thursday (15/10)

ILLUSTRATION. Wall Street fell again in trading Thursday (15/10). Wall Street’s three main indexes fell for the third day in a row.

Reporter: Wahyu Tri Rahmawati | Editor: Wahyu T. Rahmawati

KONTAN.CO.ID – JAKARTA. Wall Street weakened again on Thursday’s trading (15/10). The three major Wall Street indices fell in three days in a row.

Yesterday, the Dow Jones Industrial Average edged down 0.07% to 28,494.20. The S&P 500 index lost 0.15% to 3,483.34. Meanwhile the Nasdaq Composite fell 0.47% to 11,713.87.

The increase in the number of claims for unemployment benefits in the United States (US) and the dashing of hopes for fiscal stimulus before the election became the ballast for the US stock market in yesterday’s trading. A separate report said that manufacturing activity in New York state in October fell more deeply than expected.

“If it worsens again, the unemployment rate will find it difficult to improve due to a lack of stimulus,” said Christopher C. Grisanti, chief equity strategist at MAI Capital Management. Reuters.

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US President Donald Trump has said he intends to increase his $ 1.8 trillion bid for the Covid-19 response with Democrats in Congress. However, this proposal was rejected by Senate Majority Leader Mitch McConnell of the Republican Party.

The CBOE volatility index, which measures market volatility, touched its highest level in a week. The S&P 500 index has fallen 3% below the record high recorded on 2 September.

With less than 20 days to go to the presidential election, Trump and his Democratic opponent Joe Biden each staged a show on the premier slot on television Thursday evening after a second debate planned for the same date, October 15, was canceled.

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“The next market mover will be narrowing down who won the presidential election and how close the Senate moves to that,” said Tom Martin, senior portfolio manager for Globalt Investment.

Biden’s victory with Democrats controlling the Senate means there will be more fiscal stimulus than the current Senate Republican agrees.

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