NEW YORK (dpa-AFX) – On the US stock market, technology stocks once again suffered from the expected rate hikes at the start of the new week. On Monday, the Nasdaq 100 slid to its lowest level since mid-October in early trading. Most recently, it lost 2.11 percent to 15,263 points, while the yield on ten-year US government bonds rose to 1.8 percent.
The leading index Dow Jones Industrial lost 1.02 percent to 36,581 points in the first half hour. The market-wide S&P 500 was 1.46 percent lower to 4608 points.
The first week of trading in 2022 had already gone very badly for technology stocks. Investors worry that higher interest rates could slow the momentum in the growth industry. We are now waiting with nervousness for the inflation data due in the middle of the week. If inflation continues to rise, the US Federal Reserve (Fed) will once again see its tightening of monetary policy confirmed. Some Fed members recently also called for the reduction of the balance sheet to begin relatively soon after the first interest rate hike. Goldman Sachs is now anticipating four rate hikes by the Fed this year, while three hikes have generally been assumed so far./ajx/he
Source: dpa-AFX
– .
