NEW YORK (awp international) – Even a day after the renewed sharp rise in US interest rates, equity markets tend to be weak. In early trading on Thursday, the Dow Jones Industrial Index fell 0.60% to 30,002.78 points. For a short time, for the first time since mid-June, the stock market barometer fell below the 30,000 mark.
Economists particularly point out the risks posed by rising interest rates: “We expect growth slowdown, upside risks to unemployment and assume inflation will fall a little more slowly next year,” wrote David Page. , chief economist of Axa Investment Managers.
The S&P 500 at the market level lost 0.74% to 3761.79 points. The Nasdaq 100 technology index fell further, dropping 1.02% to 11,519.08 points.
Looking at the individual stocks, Novavax stood out. The vaccine manufacturer’s price fell nearly ten percent to its lowest level since May 2020. US bank JPMorgan lowered the recommendation from “neutral” to “underweight”. According to analyst Eric Joseph, long-term demand for the Nuvaxovid vaccine is not to be expected.
Shares of software developer and competitor SAP Salesforce took the lead in the Dow index. Here, analysts praised the profitability targets in 2026. The price gained nearly two percent.
Shares of Ely Lilly, on the other hand, were up 4% after investment bank UBS advised her to buy shares in the pharmaceutical company.
Newspapers from the restaurant chain Darden Restaurants lost four percent. Here, investors were disappointed with the performance of the subsidiary Olive Garden, which offers Italian-American cuisine and fell short of expectations in the first quarter of the year. / Bek / jha /
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