The sharp decline in Harmony Gold is due to the fact that the company reported this day that it suffered a net loss of US$48 million in this fiscal year. due to higher production costs and impairment charges.
The fall of the mining company also occurred in tune with other companies in the sector, to which the energy companies were added. Oil prices plunged more than 5% on Tuesday on recession concerns and new lockdowns in China that raise fears for crude demand.
On the other hand, Wall Street’s main indexes fell sharply as a sharp rise in job openings raised concerns about the Fed’s aggressive approach to reduce inflation.
Thus, the S&P 500 lost 1.1% to 3,986.14 units, while the Nasdaq fell 1.1% to 11,888.82. The Dow Jones Industrial Average fell 0.9% to 31,790.31 units.
The benchmark S&P 500 index has slumped 4.6% since Fed Chairman Jerome Powell last week reaffirmed the central bank’s determination to raise interest rates despite a slowing economy.
Finally, this Tuesday dollar financial shot from lows of almost two weeks and touched $300which moderated the losses but was not enough to cause generalized increases among the most traded papers.
Source: Ambito
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