The Dow fell nearly 600 points, worried about bond yields – the dollar strengthened – the Fed accelerated. | RYT9

The Dow Jones Index continues to decline. Most recently, it fell nearly 600 points after the US released more than expected non-farm payrolls. This will be a factor that will help the US Federal Reserve (Fed) accelerate interest rates.

At 23:50 GMT, the Dow Jones Industrial Average was 29,338.80, down 588.14 or 1.97%, while the S&P 500 was down 2.63% and the Nasdaq was down 3.61%.

Energy stocks rose against the market. In line with the rise in the price of oil in the world market

Wall Street is also affected by the appreciation of the dollar. and the rebound in US Treasury yields after the release of the employment report.

The strength of the dollar has raised investor fears that it will affect the profits of listed companies with overseas earnings. The rise of 10-year US Treasuries, which are US government bonds used as a benchmark for global bond prices. This includes the US mortgage interest rate. it will cause consumers to have less money to spend while the cost of paying off mortgages increases AND companies will face higher costs for paying off debt. forcing these companies to reduce their investments and reduce dividend payments to investors

The US Department of Labor said Nonfarm payrolls increased by 263,000 in September. It was higher than analysts’ estimates of 250,000, but lower than 315,000 in August.

The unemployment rate fell to 3.5% from 3.7% in August.

Investors See It Better-Than-Expected Employment Figures And the unemployment rate fell to 3.5% in September, indicating the strength of the US labor market. And it will be a factor that will help the Fed accelerate further interest rate hikes.

Investors added that The Fed will raise interest rates by 0.75% at its November monetary policy meeting. After revealing the number of non-farm payrolls today

If the Fed raises interest rates by 0.75% in November, it will raise interest rates by 0.75% for the fourth time after raising 0.75% in June, July and September.

Meanwhile, investors are keeping an eye on the minutes of the September Fed meeting on October 12 and the Consumer Price Index (CPI) on October 13 for any indication of the direction of the Fed’s interest rates.

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