The energy sector was affected by the price of a barrel of oil. Brent fell $7 to below $100 for the first time in three months on the strength of the dollar, demand cuts in China, the top oil importer, and fears of a global economic slowdown.
Brent crude futures fell $7.61, or 7.1%, to $99.49 a barrel, the lowest since April 11. US West Texas Intermediate crude fell $8.25, or 7.9%, to $95.84.
Another factor that had a negative influence was that The New York Stock Exchange closed lower on Tuesday. It happened before the specter of a recession and anxious to the publication on Wednesday of the inflation data in the United States as well as by a first wave of corporate results at the end of the week.
Thus, the Dow Jones lost 0.62%, the technological Nasdaq fell 0.95% and the expanded S&P 500 index fell 0.92%.
The Fed declared itself in favor of a new rise of 75 basic points in the reference interest rate, in an attempt to curb price increases in the United States.
This week the presentation of earnings results is scheduled for PepsiCo and Delta Air Lines on Tuesday and Wednesday, followed by bank stocks JPMorgan Chase, Morgan Stanley, Wells Fargo and Citigroupthe rest of the week.
Meanwhile, the financial dollar also pushed prices down. The parallel ticket accelerated its decline this Tuesday and accumulated a drop of almost $10 in two daysafter the Minister of Economy, Silvina Batakis ratified compliance with the goals of the IMF and announced measures to lower the large fiscal deficit.
Source: Ambito
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