The Japanese central bank unexpectedly reversed interest rates, and Wall Street initially reacted indecisively. A slight recovery movement then prevails in late trading. However, Tesla does not benefit from this. The yen is strengthening strongly.
After the surprising tightening of the Japanese interest rate policy, the US stock markets closed with little change. The Dow Jones index of standard values ended Tuesday after four days of losses by 0.3 percent higher at 32,849 points. The technology-heavy Nasdaq stagnated at 10,547 points. The broad S
Japan's monetary authorities surprisingly paved the way for a sharper rise in interest rates for long-dated government bonds. At the same time, however, they announced that they would significantly increase bond purchases. Stockbrokers interpreted the measure as an indication that a tightening of the ultra-loose monetary policy could also be pending in Japan. "Raising interest rates is something they haven't done before, so it looks like the world is on the same page and doing a coordinated rate hike to fight inflation," said Kim Forrest, chief investor at the US -Wealth manager bokeh.
The adjustment pushed the yen to a four-month high against the dollar. Conversely, the dollar fell 4.4 percent to 131 yen. The dollar index fell 0.6 percent to 103.96 points. At the same time, US government bonds flew out of the depots again. The 10-year bond yielded at 3.692 percent compared to 3.583 percent the previous day.
In terms of individual values, downgrades by at least three analyst firms sent Tesla's stocks plummeting. Shares in the US electronics manufacturer fell by more than eight percent. The experts justified their assessment with weaker demand and the distraction of Tesla boss Elon Musk after his takeover of the short message service Twitter.
The "Cheerios" mother General Mills also came under pressure and lost 4.6 percent. In its annual forecast, the breakfast cereal and ready-made pizza manufacturer had warned of rising raw material costs. Gilead Sciences was also among the losers, down 1.9 percent. Investors were disappointed with the study results for a cancer therapy from the pharmaceutical company.
In contrast, shares in the aircraft manufacturer Boeing gained 1.4 percent. Congress previously backed the suspension of a deadline on new safety standards for Boeing's two best-selling planes.
