Financial markets expect an interest rate hike of at least 75 basis points at the US Federal Reserve meeting.
All three major US stock indexes fell sharply on Tuesday and posted their biggest one-day declines since June 2020 during the COVID-19 pandemic. Reuters reported this on Wednesday, September 14.
Yes, industrial index Dow Jones down 1276.37 points, or 3.94%, to 31104.97, and S&P 500 lost 177.72 points, or 4.32%, down to 3932.69.
In its turn Nasdaq Composite fell 632.84 points, or 5.16%, to 11633.57.
“All 11 major S&P 500 sectors ended the session deep. Communications services, consumer and tech stocks fell more than 5%, while the semiconductor technology sector fell 6.2%, ” said the agency.
Financial markets are expecting an interest rate hike of at least 75 basis points at the US Federal Reserve (Fed) meeting next week.
Analysts say fears remain that a prolonged period of Fed policy tightening could push the economy to the brink of recession.
Recall that in July the Fed raised the key rate for the third time in a year and for the second time by 0.75 percentage points – up to 2.25-2.5%. The previous two increases led to the fact that the exchange rate of the dollar was almost equal to the exchange rate of the euro, and became one of the reasons for the decrease in the market value of the hryvnia against the dollar from 35 to 41.
The euro against the dollar rose sharply after the ECB decision
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Source: korrespondent
I am Dylan Hudson, a dedicated and experienced journalist in the news industry. I have been working for Buna Times, as an author since 2018. My expertise lies in covering sports sections of the website and providing readers with reliable information on current sporting events.