Indices in this article
NEW YORK (dpa-AFX) – On Wall Street, the recent recovery of the Dow Jones Industrial (Dow Jones 30 Industrial) came to a standstill on Wednesday. The two most important technology stock indices had at least continued their latest record hunt for the time being, but lost momentum in the course of trading. In general, investors were still concentrating on the continued support of the markets by the central banks and on the economic recovery, but at the same time the recently re-emerged inflation concerns persisted.
The US benchmark index fell 0.21 percent to 33,874.24 points. The S&P 500, which represents the broad market, fell 0.11 percent to 4241.84 meters.
The technology-heavy NASDAQ 100 closed 0.03 percent higher at 14,274.24 points, after having previously achieved a record of almost 14,325 points. The broader Nasdaq Composite (NASDAQ Composite Index) was up 0.13 percent.
The day before, Fed Chairman Jerome Powell tried again to calm the markets with his statements. The US Federal Reserve does not want to undertake a preventive interest rate hike, but rather only act when inflation rises sustainably. Powell once again described the latest surge in inflation as a transitional phenomenon that will recede.
“It is noteworthy that the central banks remain sufficiently relaxed with regard to the inflation outlook,” said Dekabank’s chief economist, Ulrich Kater. The financial market participants would thus have distanced themselves somewhat from the idea of a rapid reflation of the national economies, i.e. if prices rise sharply as a result of the economic stimulus. The yields on government bonds, which have fallen somewhat in the past few days, would have helped the stock markets in return, said Kater.
It was in keeping with the Federal Reserve’s composure that the US economic data published this Wednesday turned out to be rather sobering. The purchasing manager indices of the market research company Markit were unable to give the stock exchange any impulses. The index value for the services sector fell surprisingly sharply. In addition, sales of new homes fell sharply again.
Among the biggest losers on the Nasdaq 100, the shares of Electronic Arts lost 1.6 percent. The manufacturer of computer games is buying the game company Playdemic from the telecommunications group AT&T – although it has only had one hit so far with “Golf Clash”. AT & T’s share certificates fell 0.5 percent.
According to insiders, the pharmaceutical retailer McKesson is examining the sale of its European business. This would mean that McKesson would reverse its purchase of the German Celesio in 2014, reported the Bloomberg news agency, citing people familiar with the matter. Investors were cautious about the news: the share certificates fell by 0.7 percent.
The euro broke off its recent rally and was last traded at $ 1.1922. The European Central Bank had set the reference rate at 1.1951 (Tuesday: 1.1894) dollars. The dollar cost 0.8368 (0.8408) euros.
The futures contract for ten-year Treasuries (T-Note-Future) recently fell by 0.19 percent to 132.13 points. The yield on ten-year bonds was 1.49 percent./la/he
— By Lutz Alexander, dpa-AFX —
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