Monday, June 2, 2025
  • Login
Euro Times
No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
Euro Times
No Result
View All Result

Wall Street closes lower as inflation hits 40-year high, inviting aggressive Fed tightening By Reuters

by Reuters
March 11, 2022
in Markets
Reading Time: 3 mins read
A A
0
Home Markets
Share on FacebookShare on Twitter


2/2
Wall Street closes lower as inflation hits 40-year high, inviting aggressive Fed tightening
© Reuters. An individual walks previous the New York Inventory Alternate (NYSE) in Manhattan, New York Metropolis, U.S., March 7, 2022. REUTERS/Andrew Kelly

2/2

By Stephen Culp

NEW YORK (Reuters) – Wall Avenue resumed its slide on Thursday, ending within the crimson as inflation hit a four-decade excessive, cementing expectations that the U.S. Federal Reserve would hike key rates of interest on the conclusion of subsequent week’s financial coverage assembly to forestall the financial system from overheating.

Looming uncertainties surrounding Russia’s invasion of Ukraine additionally helped persuade market contributors to recommence their flight to security.

Whereas all three main indexes ended within the crimson, they pared their losses late within the day and closed nicely above session lows, because the U.S. equities market adopted its finest day in months on Wednesday by renewing a multi-session sell-off.

“It is extra of the identical,” mentioned Paul Nolte, portfolio supervisor at Kingsview Asset Administration in Chicago, noting that the fairness market’s day by day volatility is “being pushed extra by geopolitical than financial information.”

Client costs surged in February to a 7.9% annual progress price, in response to the Labor Division, the most popular studying in forty years.

“The (CPI) print was not far off estimates,” Nolte added. “There shall be extra to return within the subsequent month or two as a few of the rising commodity costs get integrated.”

Whereas the market absolutely expects the central financial institution to lift the Fed funds goal price by 25 foundation factors on the conclusion of subsequent week’s financial coverage assembly, the CPI knowledge recommended the FOMC may transfer “extra aggressively” to curb inflation within the upcoming yr, as promised by Fed Chair Jerome Powell final week.

“It is nonetheless anticipated the Fed will increase charges 4 to seven instances within the subsequent yr or two to curb financial progress,” Nolte mentioned, including that “what complicates this, is the Fed has by no means raised charges with the yield curve this flat and volatility so excessive.”

“They’re attempting to extend charges at a time when the market is in turmoil.”

The graphic under exhibits annual core CPI progress, together with different indicators, and the way far they’ve soared above the Fed’s common annual inflation goal:

Power costs have been the principle perpetrator, with gasoline costs surging 6.6% in a single month, though the report didn’t mirror the whole thing of spiking crude costs within the wake of Russia’s actions in Ukraine.

These actions saved geopolitical jitters at a full boil, with peace talks displaying little progress whilst a humanitarian disaster unfolds and world oil provide pressures continued to weigh on international markets.

Amazon.com (NASDAQ:) offered one of many day’s shiny spots, its shares leaping 5.4% after the e-commerce large introduced a 20-for-1 inventory cut up and a $10 billion share buyback.

The fell 112.18 factors, or 0.34%, to 33,174.07, the misplaced 18.36 factors, or 0.43%, to 4,259.52 and the dropped 125.58 factors, or 0.95%, to 13,129.96.

Six the 11 main sectors within the S&P 500 closed in adverse territory with tech suffered the largest share drop, whereas vitality shares noticed the most important achieve.

The NYSE FANG+ index of market main tech and tech-adjacent megacaps plunged on the day.

The NYSE FANG+ index of market main tech and tech-adjacent megacaps plunged 2.1%.

Goldman Sachs Group Inc (NYSE:) turned the primary main U.S. funding financial institution to announce it was closing operations in Russia. Its shares dropped 1.1%.

The S&P 500 banking index slid 1.0%.

Oracle Corp (NYSE:) dipped almost 6% in after-hours buying and selling after the enterprise software program and cloud computing agency posted quarterly outcomes.

Declining points outnumbered advancing ones on the NYSE by a 1.62-to-1 ratio; on Nasdaq, a 1.72-to-1 ratio favored decliners.

The S&P 500 posted 5 new 52-week highs and 12 new lows; the Nasdaq Composite recorded 28 new highs and 163 new lows.

Quantity on U.S. exchanges was 12.50 billion shares, in contrast with the 13.65 billion common during the last 20 buying and selling days.



Source link

Tags: 40yearaggressiveclosesFedHighhitsInflationinvitingReutersStreettighteningWall
Previous Post

‘Leaseholders should not pay a penny to rectify faults not of their doing’

Next Post

TikTok Is Moving American User Data To The US, But Workers Say China Ties Persist : technology

Related Posts

Investors are piling into big, short Treasury bets with Warren Buffett

Investors are piling into big, short Treasury bets with Warren Buffett

by Jason Gewirtz
June 2, 2025
0

Traders at all times pay shut consideration to bonds, and what the newest motion in costs and yields is saying...

Trump’s tax bill could weaponize U.S. capital markets, hit foreign direct investment

Trump’s tax bill could weaponize U.S. capital markets, hit foreign direct investment

by Anuron Mitra
June 1, 2025
0

Jun. 01, 2025 11:25 AM ETS&P 500 Index (SP500), SH, SPY, VOO, IVV, SDS, RSP, SSO, UPRO, SPXUBy: Anuron Mitra,...

Top Wall Street analysts prefer these dividend stocks for consistent returns

Top Wall Street analysts prefer these dividend stocks for consistent returns

by TipRanks.com Staff
June 1, 2025
0

The Dwelling Depot brand is displayed exterior a retailer on March 10, 2025 in San Diego, California. Kevin Carter |...

Why JPMorgan hired NOAA’s Sarah Kapnick as chief climate scientist

Why JPMorgan hired NOAA’s Sarah Kapnick as chief climate scientist

by Diana Olick
June 1, 2025
0

Sarah Kapnick began her profession in 2004 as an funding banking analyst for Goldman Sachs. She was struck nearly instantly...

Insurance stocks Lemonade, Mercury among biggest financial gainers of the week

Insurance stocks Lemonade, Mercury among biggest financial gainers of the week

by Liz Kiesche
May 31, 2025
0

Could 31, 2025 10:25 AM ETXLF, KB, MCY, MARA, TRUP, CLSK, BTC-USD, PLMR, LMND, GLXY, ETOR, AIFUBy: Liz Kiesche, SA...

Can Costco (COST) remain resilient against tariff headwinds this year?

Can Costco (COST) remain resilient against tariff headwinds this year?

by Staff Correspondent
May 31, 2025
0

Costco Wholesale Company (NASDAQ: COST) this week reported greater gross sales and revenue for the third quarter, regardless of tariff-related...

Next Post
TikTok Is Moving American User Data To The US, But Workers Say China Ties Persist : technology

TikTok Is Moving American User Data To The US, But Workers Say China Ties Persist : technology

CPI inflation February 2022:

CPI inflation February 2022:

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

First Guaranty Bancshares 8.8% Yielding Preferred (FGBIP): Hold Due To Loan Concern

First Guaranty Bancshares 8.8% Yielding Preferred (FGBIP): Hold Due To Loan Concern

June 2, 2025
XChat, new DM feature, adopts Bitcoin-style encryption: Elon Musk

XChat, new DM feature, adopts Bitcoin-style encryption: Elon Musk

June 2, 2025
Limbach Holdings Stock: Growth Is Great, But Valuation Is A Concern (NASDAQ:LMB)

Limbach Holdings Stock: Growth Is Great, But Valuation Is A Concern (NASDAQ:LMB)

June 2, 2025
Is Ethereum Price Gearing Up For A Monster Rally? ETH Up 80% The Last Time This Happened

Is Ethereum Price Gearing Up For A Monster Rally? ETH Up 80% The Last Time This Happened

June 2, 2025
Elon Musk tries to stick to spaceships

Elon Musk tries to stick to spaceships

June 2, 2025
Multiple people wounded in attack in US city of Boulder, Colorado | Crime News

Multiple people wounded in attack in US city of Boulder, Colorado | Crime News

June 2, 2025
Euro Times

Get the latest news and follow the coverage of Business & Financial News, Stock Market Updates, Analysis, and more from the trusted sources.

CATEGORIES

  • Business
  • Cryptocurrency
  • Finance
  • Health
  • Investing
  • Markets
  • Politics
  • Stock Market
  • Technology
  • Uncategorized
  • World

LATEST UPDATES

First Guaranty Bancshares 8.8% Yielding Preferred (FGBIP): Hold Due To Loan Concern

XChat, new DM feature, adopts Bitcoin-style encryption: Elon Musk

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In