This friday august 18 It seems not to be the day that Wall Street find relief, the shares suffer new falls that thus add to the accumulated losses throughout the last few days.
In this context, the index Dow Jones experienced a decrease of 0.2% to 34,391.29 units. The S&P 500for its part, yielded 0.5%, while the Nasdaq Composite suffers the worst fall, with a loss of 1%.
These results led the main indices to face its fourth consecutive day of losses.
Leading companies like Keysight Technologies They are underperforming, losing more than 10% due to disappointing earnings reporting. Deere and Estee Lauder were also affected, posting declines of more than 3% after filing their financial reports.
The negative trend also affected Goal, whose shares continued their weekly decline, falling more than 2% over the course of Friday.
Wall Street: a week to forget
These worrying results led to Dow Jones to face its worst week since March, with a 2.6% drop in value. At the same time, the S&P 500 was headed for its third straight week of losses, a series of setbacks not seen since February. Meanwhile, the Nasdaq Composite It did not escape this trend either, heading towards its third consecutive week of losses, a phenomenon not seen since December.
On Thursday, the Dow closed below its 50-day moving average for the first time since early June, a sign that has historically been associated with bearish market moves. During that day, the 30-share index registered a fall of 290.91 points, equivalent to 0.84%. The S&P 500 and the Nasdaq Composite they also experienced setbacks, with decreases of 0.77% and 1.17%, respectively.
Wall Street: uncertainty reigns
The concern for inflation and possible interest rate hikes They were recurring themes during the week. The yield on 10-year US Treasury bonds hit its highest level since October 2022 on Thursday, buoyed by minutes from the Federal Reserve’s July meeting, which hinted at the possibility of future interest rate hikes.
However, towards the end of the week, yields began to pull back from their highs, with the 10-year bond yield trading almost 6 basis points below 4.247%.
In short, the volatility and economic concerns continued to affect financial markets throughout this week, leaving investors watching upcoming developments for signs of stability and recovery.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
