While the few increases were led by the shares of Cresud (+3.8%) and those of Ternium (+1.3%) and Central Puerto (+1.1%).
Meanwhile, US stocks fell on Monday as investors worried about the impact of further interest rate hikes and restrictions aimed at curbing China’s semiconductor industry.
Federal Reserve Vice Chair Lael Brainard said The tightening of US monetary policy has begun to take its toll in an economy that may be slowing faster than expected.
Despite growing concern from a number of economists and analysts that the Fed’s interest rate hikes could push up unemployment, Chicago Fed President Charles Evans continued to support the central bank’s attempt to reduce inflation. , and said that while he sounds “optimistic,” he believed he could do it “while also avoiding a recession.”
“People are worried about the economy. People are worried about a possible recession,” said Jake Dollarhide, CEO of Longbow Asset Management.
The Philadelphia semiconductor index fell to a two-year low after the Biden administration on Friday published a series of export controls, including a measure to cut off China’s access to certain chips made anywhere in the world with US teams.
Shares of Nvidia Corp, Qualcomm Inc, Micron Technology Inc and Advanced Micro Devices fell.
Investors were also cautious ahead of the third-quarter earnings season in the United States, which kicks off on Friday with results from some major banks.
In this framework, the S&P 500 lost 0.74% to 3,612.86 points, while the Nasdaq lost 1.06% to 10,539.78. And the Dow Jones Industrial Average fell 0.31% to 29,208.82.
In the world, the global stocks they fall after Russian missiles hit cities across Ukraine.
The market expects US consumer inflation to have moderated to 8.1% annually, but core inflation is expected to have accelerated to 6.5% from 6.3%. US CPI data will be released on Thursday.
While, the US dollar rose for the fourth straight session on Monday as investors await this week’s inflation datawhich are expected to show continuing price pressures in the world’s largest economy, which would prolong the Federal Reserve’s aggressive monetary policy into next year.
Source: Ambito
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