Likewise, the rise in US Treasury yields affected some growth stocks, with Amazon, Nvidia and Microsoft recording declines between 0.5% and 2%.
This Tuesday, the main indices of Wall Street experience falls, anticipating the crucial decision of monetary politics of the Federal Reserve. The investment community was extremely attentive to the Nasdaq debut of instacarta grocery delivery app, to assess the potential resurgence of the Initial Public Offerings (IPO) market.
In that scenario, the Dow Jones Industrial Average It fell by 52.01 points, equivalent to 0.2%, standing at 34,572.29 units. For its part, the index S&P 500 shows a decrease of 8.83 points, representing 0.2%, and reached 4,444.70 points. In addition, the Nasdaq Composite It loses 56.78 points, 0.4%, standing at 13,653.46 units.
Instacart and Federal Reserve
Maplebear Incthe parent company of Instacart, achieved a valuation fully diluted $9.9 billion on Monday, after setting its Initial Public Offering at $30 per share, the top of its indicated price range.
The outstanding debut in the market of Arm Holdingsa semiconductor designer, last week raised hopes of a revitalization in the IPO market after a nearly 18-month dry spell.
There is speculation that both Arm and Instacart could encourage other companies to go public, although the environment for IPOs remains challenging with interest rates high prices and a slowing economy, according to Robert Pavlik of Dakota Wealth in Fairfield.
The rise in US Treasury yields weighed on some growth stocks, with Amazon, Nvidia and Microsoft posting declines between 0.5% and 2%.
In addition, investors were looking forward to the two-day Fed meeting that would begin later in the day.. It is anticipated that at the end of this meeting the reference rates will remain in the current range of 5.25% to 5.50%.
Source: Ambito
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