The main stock indices of the US market fell this Friday. Wall Street extended a streak of consecutive losses and the indices Nasdaq Y S&P 500 had their worst setbacks for a week since March 2020, when the coronavirus pandemic began Covid-19 in the world’s leading economy.
The index Nasdaq, which has a high technological component, closed the negotiations with a strong loss of -2.72% at 13,768.92 units, and led the falls. The S&P 500, the market benchmark of 500 stocks, fell -1.89% to 4,397.94 units. The Industry Average Dow Jones fell -1.30% to 34,265.37 units.
The Nasdaq and S&P 500 indices fell for the fourth day and the Dow Jones for the sixth, in their longest losing streak since February 2020. a market that awaits the first meeting of the Federal Reserve this year for more details on the cycle of rate hikes expected to start in March.
In the weekly balance, the Nasdaq accumulated a loss of -7.55%, while the S&P 500 fell -5.68%, and the Dow Jones, -4.58 percent. With this movement, the S&P 500 marked a third week in the red, while the Nasdaq highlighted on Wednesday that it had entered a correction, 10% below the historical ceiling.
Among the issuers, the strong decline in the shares of Netflix, the first of the technology companies to present their numbers for the fourth quarter. Its pales closed down -21.79% after anticipating weak subscriber growth, dragging its competitor down. waltdisney.
The first month of 2022 has been a bearish one for stocks as the rapid rise in Treasury yields to pandemic highs and concerns that the Fed will turn aggressive in reining in inflation weighed on especially technology and growth stocks.
jose.rivera@eleconomista.mx