habit concerns Since the Federal Reserve’s continued enforcement of its strict investor control policies, US stocks have ended their trading in the red zone, and the Dow Jones index lost more than 500 points, before managing to compensate for a small part , in the last minutes of the first day of the trading week.
And the first day of trading after China’s announcement loosening many restrictions imposed to limit the spread of the epidemic, and as Chinese stocks hit record highs, major US stock indexes plummeted, causing the Dow Jones Industrial Average to end the trading day with a loss of 480 points, or 1 .4% of its value, and the S&P 500 index fell 1.79%, while the Nasdaq index came close to losing 2%.
it was fortechnology companiesTesla, the most hated of the Fed’s hardline policies, suffered the largest share of today’s losses as the share of electric-car maker Tesla fell 6.4 percent after reports were issued confirming the reduction of the company’s output from its Shanghai factory.
Corporate stocks also declined Amazonia (3.3%), Netflix (2.4%) and Salesforce (7.4%) Oil companies have also had their share of declines.
On the first day of application of the maximum price set by the countries of the European Union for Russian oil, transported by sea with European ships, and using European banks and insurance companies, oil prices fell, after starting the day with a recovery, causes reports showing China, the world’s largest oil importer, has eased restrictions. Chevron’s stake lost about 2.5%, while Exxon Mobil’s stake lost about 2.75%.
Oil prices fell more than 3% today, Monday, coinciding with the decline in US stock markets, on the impact of US services sector data, which raised fears that the Federal Reserve will continue to tighten its policy monetary.
Brent crude futures fell $2.89 to reach $82.68 a barrel at settlement, while U.S. West Texas crude fell $3.05 to $76.93 a barrel.
The decline in oil prices also coincided with the issuance of reports confirming that Venezuelan exports increased last month to nearly 620,000 barrels a day of crude and fuel, as shipments to Europe and the restart of crude oil processing units, so that their sales were up 16% from the previous month, according to documents and data from Refinitiv Icon.
Markets expect more Venezuelan supplies to markets in the coming months, thanks to a new license granted by the US administration to the giant Chevron Corporation, as part of a strategy to ease sanctions on Venezuela and find alternatives to Russian oil.
Relatedly, gold prices fell significantly today, Monday, as the dollar returned to the upside amid betting on continued Federal Reserve tightening at its scheduled meeting next week.
Spot gold fell 1.6% to $1,769 an ounce in today’s trading, after hitting its highest level since July 5, near $1,810 an ounce today.
In the same context, silver fell in spot transactions by 3.8%, registering 22.24 dollars an ounce.
