Wall Street falls on fears of further rate hikes after jobs data

“Every time we see these big numbers, fear of the Federal Reserve returns with more forcebecause people are probably afraid that the Fed is going to push even harder than it has, risking not a soft landing but more of a car crash,” he said. brian jacobsen, senior investment strategist at Allspring Global Investments, speaking to Reuters.

The markets monetary officials expect the US central bank raise rates two more times before pausing, after the Fed raised its target rate by 25 basis points on Wednesday. The expectation is that it will place the reference rate at 5%. In its last update, the range was located at 4.5%-4.75%.

Fears that rates will rise for longer amplified the pessimistic environment created by the disappointing results of large growth companies.

Manzana forecast another decline in revenue earlier in the year, but its shares reversed course and are up 3%. For his part, Amazon.com falls 4.5% after noticing that his Profits operations could reduce to zero in the current quarter, and the Google matrix, alphabet, missed estimates Wall Street on fourth-quarter results, sending its shares down 1.5%.

The three main indices of Wall Street kept targeting Profits this week. He nasdaq he was heading to his fifth weekly preview consecutive, his best streak since October.

He Dow Jones Industrial Average it loses 52.53 points, or 0.15%, to 34,001.41 points; Meanwhile he S&P 500 it gave up 14.19 points, or 0.34%, to 4,165.57 units. Meanwhile, the Nasdaq Composite it fell 38.81 points, or 0.32%, to 12,162.01 points.

Ford Motor Co falls 8.1% after fail expectations of quarterly profits and warn of a difficult year.

On the plus side, Tesla rises 5.6%, driven by strong electric vehicle sales in China in January