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NEW YORK (dpa-AFX) – The most important US stock exchanges started trading deeper on Thursday. Current economic data signaled good news for the US economy, but they also exacerbated investors’ concerns about inflation and interest rates. A good hour after the start, the Dow Jones Industrial (Dow Jones 30 Industrial) fell by 0.33 percent to 34,484.85 points. The technology-heavy NASDAQ 100 fell 1.01 percent to 13,537.10 points.
According to analyst Sophie Griffiths from broker Oanda, investors are worried about a surge in US economic data. The private job report of the service provider ADP has already been published, which sent strong signals for the official labor market report on Friday. The much-noticed ISM purchasing managers index for the service sector was also strong.
According to the ADP report, the US private sector created nearly a million jobs in May, significantly more than experts expected. In the market it was said that this would increase the pressure on the US Federal Reserve, its so far extremely loose Monetary policy to restrict. In addition, international trade policy played a role again. It was pointed out that US President Joe Biden is considering a US ban on investments in companies that are related to the Chinese military./he/fba
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