The Russian rockets on major Ukrainian cities are creating a bad mood on Wall Street. All three indices remain close to their lows for the year. The fact that the major bank JP Morgen is pessimistic about the near future is increasing the pressure on prices.
After the sharp losses at the end of the week, Wall Street has again shown discounts after extremely volatile trading. However, prices recovered significantly from the daily lows after the Nasdaq indices had fallen to a year's low. Prices had previously come under pressure after JP Morgan CEO Jamie Dimon warned on CNBC that S
"We expect much more volatility in markets for the remainder of the year as the inevitability of higher interest rates prevails and the economic fallout becomes more apparent," said investment strategist Arthur Laffer Jr. of Laffer Tengler Investments. The Dow Jones index lost 0.3 percent to 29,203 points - the daily low was around 200 points below. S
Overall, the three most important stock indices remained close to their lows for the year. Persistent concerns about sharp interest rate hikes coupled with fears of recession dominated trading - especially after Friday's labor market data. Russia's renewed airstrikes against civilian facilities in Ukraine are also causing unease, as they were almost unanimously classified as acts of terrorism. The danger of further military escalations is increasing because the West will probably react, it said. US President Joe Biden promised further military aid to Ukraine. Elsewhere reference was made to weak economic data from China. There was also reluctance to buy in the run-up to important inflation data in the USA and the minutes of the Fed meeting during the week.
The dollar extended Friday's gains on rate speculation. The dollar index gained 0.3 percent. But according to the US job market report, the gains were limited, according to Commerzbank. On the one hand, this may have been due to the fact that the data was still within the expected range. On the other hand, the dollar had already risen significantly in the days before in the course of hawkish statements by numerous Fed members.
Oil prices showed clear levies - burdened by the weak China data. In addition, according to reports, the US plans to bring oil from the strategic reserve to the market. In the previous week, crude oil prices had risen more sharply with the OPEC group's cut in production. "Crude oil trends lower as Opec decision fades. In fact, we are seeing oil prices falling back to pre-cartel announcement levels as the reality of global recessions takes hold," said Spartan analyst Peter Cardillo.
Gold prices fell 1.6 percent. The troy ounce moved just below the support area between $1,680 and $1,670. Stress factors are the prospect of further significant interest rate hikes by the US Federal Reserve and the strong dollar, it said.
After AMD's sales warning, the semiconductor sector remained under selling pressure. The chip sector in the S
Tesla shares closed slightly lower, showing relative strength. The electric car manufacturer set a delivery record in China in September. Competitors Ford (-6.4%) and General Motors (-3.3%) fell after UBS downgraded their shares. For Merck
