The NYSE The mixture of inflation, economic slowdown and interest rate hikes fell yesterday without seeing a way out, when the business results season is approaching.
(Read: Do not buy dollars, Petro’s recommendation to Colombians).
The Dow Jones Industrial Average fell 0.52%, the Nasdaq, of technological values, left 2.26% and the S&P 500 yielded 1.15%. The covid outbreak in China influences the markets.
Shanghai authorities launched new massive tests over the weekend and Macao decreed a week of confinement to curb contagion.
Investors meanwhile are awaiting the June report of consumer prices in USA which will be revealed tomorrow. It will be scrutinized for signs of whether the Federal Reserve (Fed) will again aggressively raise rates to contain inflation at its meeting this month.
Also weighing on investors is the expectation of retail sales for June and the start of corporate results for the second quarter. The market fears that these results will reveal a weak economic horizon.
The main European stock markets closed in red on Monday due to fears of new confinements in China and Russian gas cuts in Europe due to tensions with Moscow. The London stock market was the only one that closed almost stable, with an increase of just 0.01%. For its part, the parquet floor of Paris lost 0.61% and that of Frankfurt 1.40%. In Madrid, the stock market yielded 0.43% and in Milan, 0.95%.
(Also: So are pennies on the dollar that can be worth up to $800 million.)
In our region, the most affected stock market, yesterday, was that of Sao Paulo, which lost 2.07% and its Bovespa index fell below 99,000 points (98,212), pressured from abroad after the advance of the covid in China and due to the poor performance of the sectors linked to raw materials.
BRIEFCASE
