Wall Street is painted red and closes its second negative week

Wall Street fell in the last session of the week, in a market worried about the prospect of a recession in USA due to the cycle of adjustments to interest rates in order to control inflationary pressure.

The main index Dow Jonesmade up of 30 industrial giants, fell 0.85% to 32,920.46 points, while the S&P 500 it lost 1.11% to 3,852.36 points. The Nasdaq of large technology companies lost 0.97% to 10,705.41 units.

“Investors cannot stomach the offensive rhetoric from central bankers this week, against a backdrop of a clear slowdown in the economy,” Edward Moya of brokerage firm Oanda said in an analysis note.

The Federal Reserve, like the European Central Bank and the Bank of England reiterated this week that their fight against inflation is not over and that they should raise their rates further and keep them higher for longer than expected.

This week, some macroeconomic indicators in the United States confirmed that the world’s largest economy is showing signs of fatigue: “The data feeds investor fears,” said Angelo Kourkafas of Edward Jones.

The Dow Jones index accumulated a loss of 1.66% for the week, while the S&P 500 fell 2.08 percent. The Nasdaq led the falls with 2.72 percent. All three indices accumulated losses for the second day in a row.

With information from AFP