Börse Express – ROUNDUP/Aktien New York Conclusion: heavy losses

NEW YORK (dpa-AFX) – The announcement of a surprisingly restrictive future US monetary policy also weighed on the New York stock exchanges on Thursday. The main Dow Jones Industrial index
it finally lost 2.25% to 33,202.22 points, which intensified the downward momentum. In the course of trading, you just missed the 33,000 point mark, under which you last traded about five weeks ago.

The other major stock indexes also accelerated their weak development compared to the previous day: the market-wide S&P 500
said goodbye 2.49% down to 3895.75 points. For the Nasdaq 100 select index , which contains many stocks particularly sensitive to technology sector interests, eventually fell 3.37% to 11,345.22 points. A slew of rather weak US economic data had no discernible influence on prices. According to market observer Andreas Lipkow, however, they point to a significant economic slowdown in the world’s largest economy.

The Dow initially jumped to its highest level since April on Tuesday after a stronger-than-expected decline in inflation. Hope that the Fed would soon let go of the reins gave way to some disillusionment that same day — rightly so, as emerged after the Fed’s interest rate decision on Wednesday. As expected, US monetary authorities hiked the rate benchmark by just 0.5 percentage points after four meetings, each time by 0.75 percentage points. However, the hoped-for signal that interest rates would soon peak failed to materialize.

“The Fed has no plans to let interest rate hikes expire, despite falling inflation and risks of a recession,” said ActivTrades analyst Ricardo Evangelista, summing up Fed Chairman Jerome Powell’s key message . “Interest rates will continue to rise in 2023 and stay high for longer than expected.” The European Central Bank (ECB) and the UK central bank also announced further hikes on Thursday after interest rate hikes were expected.

Novavax shares have lost ground in the US stock market it lost more than a third of its value, closing at $11.32. They thus marked their lowest level since the outbreak of the corona pandemic in spring 2020. The vaccine manufacturer caused a bad mood with the announcement of a capital increase. In addition, the British government has halved its order for the Nuvaxovid corona vaccine, which had already been adjusted several times. Novavax must repay part of the deposits received. Over the course of the pandemic, shares had temporarily jumped to a whopping $330.

Video streaming service Netflix was the bottom performer on the Nasdaq 100 on Thursday with a price slip of more than eight and a half percent. Here weighed a report from the technology portal “Digiday”, according to which a new subscription model with advertising has not yet achieved the audience figures promised to advertisers.

Shares of electric car maker Tesla, which were about half a percentage point stronger at the end of trading they have managed to stabilize somewhat after another low since November 2020. It has lost 55% in value since the beginning of the year, which means it is one of the last places in the technology selection index. The head of the company Elon Musk, who, among other things, as a result of the takeover of the course news service Twitter probably lost his status as the richest person in the world, he continued to sell shares between December 12 and 14. It was the fourth time this year that Musk has had to part ways with billions of Tesla shares to fund his controversial Twitter buyout.

The euro was only briefly boosted by the prospect of further interest rate hikes in the currency area: after jumping to $1.0735, the common currency rapidly fell and was last seen at $1.0622 in New York. However, it is still at its highest level since June. The ECB had set the reference rate at 1.0621 dollars.

US government bonds have been able to gain something. Finally, the 10-year bond futures contract (T-Note Future) gained 0.19% to 114.94 points. The 10-year government bond yield was 3.45%./dl/mn

— By Gerold Löhle, dpa-AFX —

 ISIN  US2605661048  US6311011026  US78378X1072

AXC0345 2022-12-15/22:29

Copyright dpa-AFX business news GmbH. All rights reserved. Redistribution, republication or permanent archiving without the prior express consent of dpa-AFX is not permitted.