NEW YORK (dpa-AFX) – Wall Street will not rest on Friday either. Even after the US job market report, investors remained cautious in anticipation of further interest rate hikes. The Dow Jones Industrial initially fell by one and a half percent in nervous trading, temporarily making up for its losses, but most recently fell again by 0.75 percent to 32,748.86 points. In the course of the week he has currently lost about 0.7 percent.
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Fluctuations are currently shaping the stock market, it said. On the Nasdaq stock exchange, the technology-heavy Nasdaq 100 had already lost up to 2.6 percent, but also gained more than half a percent at its peak. Most recently, it fell again by 1.23 percent to 12,693.07 points. His daily loss on Friday roughly corresponds to the weekly balance. It is currently trading at its lowest level since March 2021, while the Dow hit its lowest level since February.
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Investors are currently facing three problems at the same time: slowing growth, higher costs and rising interest rates, said market strategist Sean Darby of investment bank Jefferies. Only on Wednesday did the US Federal Reserve raise interest rates by a further 0.50 percentage points. The last time there was such a clear one-off step was 22 years ago.
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“With their measures, the central banks also have to accept harmful side effects on the economy in the current situation. Fighting inflation now has priority,” said chief economist Ulrich Kater from Dekabank. Accordingly, the latest US job market report on Friday was viewed particularly critically. “Another significant increase in new jobs – the Fed remains under pressure,” commented analyst Tobias Basse from NordLB.
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