On the New York Stock Exchange (NYSE) on 29th local time, the Dow Jones Industrial Average closed at 29,225.61, down 458.13 points, or 1.54%, from the previous day.
The Standard & Poor’s (S&P) 500 index fell 78.57 points, or 2.11%, to 3,640.47, and the Nasdaq tech stock index closed at 10,737.51, down 314. 13 points and 2.84% from the battlefield.
The S&P 500 broke another low this year and re-established a record low of 3,610.40 intraday.
The stock market fell more than 6% on the day, but investor sentiment appears to have eased significantly due to the impact of Apple, which ended the day down 4.9% by reducing the decline.
In the midst of this, the US Federal Reserve’s upward trend in interest rates has not been shaken.
Cleveland Federal Reserve Governor Loretta Mester said today in an interview with CNBC that rates are still “non-restrictive” and that rates should be raised further to contain inflation.
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