Losses on Wall Street in fear of global growth



Losing losses to the end of the session have seen key Wall Street indices, as a new drop in oil prices has raised fears of global economic slowdown.

Dow Jones declined by 0.77% to 25,989.30 points, the S & P 500 dropped by 0.94% to 2,780.43 points and the Nasdaq lost 1.65% to 7,406.90 points. Indices recorded strong weekly earnings, Dow rose 2.8%, S & P 500 by 2.1%, and Nasdaq 0.7%.

Specifically, argon argon has the biggest drawback since 1984, when it recorded losses at its tenth consecutive session. Oil has now been introduced into the bear market by destroying the profits of the year.

In particular, delivery oil dropped 0.8 percent to $ 60.19 a barrel in December, falling below $ 60 during the day,

Climate also disappointed with China, and the trade dispute over Beijing-Washington continues. In particular, the Chinese carmaker association said sales were down 11.7% in October and dropped for the fourth consecutive month.

In the meantime, the Federal Reserve has decided that interest rates will not change as expected, but it has been shown to continue to raise interest rates.

Specifically, analysts expect the next US interest rates to rise in December, while expecting two further increases by 2019. It should be noted that the rise in US interest rates is one of the sources of concern recently in buying shares.

Today's government data showed that producer prices were boosted at the fastest pace in October in six years.

In particular, the producer price index rose 0.6% in October from the previous month, according to the US Department of Labor. This is the largest monthly increase since September 2012.

Excluding food and energy, prices rose by 0.5% in October compared to the previous month.

It should be noted that analysts' average estimates related to a monthly increase of 0.3% of the total index and 0.2% of the indicator excluding food and energy.

At the same time, American households seemed less optimistic at the beginning of November, a second consecutive monthly deterioration in consumer confidence.

Michigan University said the consumer confidence index reached 98.3 points in November, down slightly from October to 98.6. Economists questioning the Wall Street Journal placed it at 97 points.

Meanwhile, the rise in large US stocks in September compared to August and continued in the last series of profits, according to the latest data from the Department of Commerce of the country.


Source link