Jakarta, CNBC Indonesia – The United States (US) stock market fell at the opening of trading Monday (9/5/2022), amid the lack of positive sentiment that could strengthen the market.
The Dow Jones Industrial Average dropped 490 points (-1.5%) at the open at 08:30 local time (20:30 WIB), and 30 minutes later it became 481,67 poin (-1,46%) ke 32.417,7. Nasdaq index plunges 374,96 poin (-3,09%) ke 11.769,7 while the S&P 500 is depressed 92,54 poin (-2,24%) ke 4.030,8.
The correction occurred after the US central bank (Federal Reserve / The Fed) cut its benchmark interest rate by 50 basis points (bp), which triggered an increase in yields (yield) US government bonds topped the 3% level, the highest level since 2018.
Tech stocks, which have historically been hit hardest by hikes in benchmark interest rates, fell as Meta (Facebook parent), Apple and Amazon plunged 4.3%, 1.7% and more than 1%, respectively, while Tesla and Nvidia drop about 4%.
“We expect the market to remain volatile, with the risk of being exacerbated by pressures from increasing stagflation risks,” Barclays analyst Maneesh Deshpande said in a statement. CNBC International.
Over the past week, the S&P 500 and Dow Jones fell 0.21% and 0.24%, respectively. The Nasdaq is already down 1.54%. Thus, the Dow Jones fell for the sixth week in a row while the Nasdaq and S&P 500 fell for the fifth week in a row.
CNBC INDONESIA RESEARCH TEAM
Next article
Wait For Inflation Data, Wall Street Weakens at Open
–
–
(ags/ags)
–
