Wall Street closes in red and Dow Jones down 1.29%

New York, 23 Mar Wall Street closed in the red on Wednesday and its main indicator, the Dow Jones of industrialists, lost 1.29%, while Texas oil continues to skyrocket by the war in Ukraine.
The Dow Jones subtracted 448.96 points to 34,358.50 integers, while the selective S&P 500 dropped 1.23% or 55.37 units, to 4,456.24, according to data at close of trade.
The composite index of the Nasdaq market, in which the main technology companies are listed, left 1.32% or 186.21 units, up to 13,922.60.
The New York park closed a day in which pessimism prevailed, with investors pending the war in Ukraine, the rise in interest rates announced by the US central bank, inflation and US President Joe Biden’s agenda in Europe, where he will participate in a NATO meeting tomorrow, Thursday.
Investors remain concerned about the economic repercussions of the Russian invasion, which today have been reflected again in the price of Texas oil, which soared again by 5.2% to $114.93 per barrel.
The US benchmark oil surged after Moscow warned that its oil exports will fall in the coming weeks by one million barrels a day, close to 1% of world production, due to damage to a viaduct caused by a storm.
“Markets are trying to find their balance,” said Cresset Capital intrusion chief Lack Ablin quoted by CNBC.
According to Ablin, it is very difficult to try to assess how higher interest rates will affect inflation, the economy and increased profits, while, in addition, there is a war going on “that is restricting (the circulation of) oil”.
By sector, most of them ended up in red, with finance (-1.84%) as the worst unemployed, next to health (-1.77%), technology (-1.5 per cent) and non-essential goods (-1.25%), while only energy (1.74%) and public services (0.17%) ended the green session.
Among the thirty Dow Jones securities, only three closed in the green: Chevron (1.08%), Apple (0.8%) and Merck (0.53%), with the worst losses Home Depot (-3.85%), Salesforce (-3.2%), Cisco (-3.01%) and American Express (-2.78%).
In other markets, at the close of Wall Street, gold rose to $1,945.9 per ounce, the ten-year bond fell to 2,297% and the dollar gained ground against the euro at a rate of 1.1005. CHIEF

Leave a Comment