May inflation in the US turned out to be a stark reminder of how challenging the price path has beenforcing the Federal Reserve to apply the largest increase in the monetary policy rate since 1994 and favoring fears regarding the materialization of a recession, according to a report by the Balanz Research team.
In fact, the nasdaq tech index fell in the last 180 days 26.9%. The benchmark S&P 500 confirms a semi-annual downward trend, as it registers a fall of 20.2% since January. And the Dow Jones was the least affected so far with a decrease in its price that represents 15.8%.
The Nasdaq managed to reverse the initial price of the day and ended 1.8% higher, and the S&P did the same trend with 0.2%. Only the Dow Jones index registered a drop of 0.2%.
The three main indices in the first six months of the year have not managed to reverse the long-term trend, however the day has seen the financial sector, so punished during the first half, stand out.
Today, the energy sector was hit hard by lower oil prices, reversing earlier gains, as concerns about a possible global recession reducing fuel demand offset fears of supply disruption. , highlighted by an expected production cut in Norway.
Brent crude slumped $10.7, or 9.5%, to $102.8 a barrel. US West Texas Intermediate (WTI) crude, meanwhile, sank $8.9, or 8.2%, to $99.5 a barrel. On Monday there was no WTI price due to a holiday in the United States.
Investors are increasingly concerned that the latest rise in oil and fuel prices adds to recession concerns. This decline in the price of the commodity strongly affects Shell, which falls by 6.4% and Exxon Mobil by 3.1%. However, the recovery of the main indices in the last few hours calmed down on Wall Street.
Source: Ambito
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