Wall Street loses in its first session of 2023 due to falls in Apple and Tesla

The three main indices of Wall Street ended the first trading session of 2023 with declines. The references fell after a positive opening, with pressure from strong setbacks in the titles of Apple y Teslawhich made the market nervous.

The index Dow Jonesmade up of the shares of 30 industrial giants, fell 0.03% to 33,136.37 units, while the S&P 500 of 500 values ​​moved 0.40% with 3,824.14 points and the Nasdaq technology fell 0.76% to 10,386.98 units.

Investors remain concerned about the future of interest rates on the Federal Reserve (Fed), which in the open fight against inflation could cause a recession in the larger economy. The market awaits the minutes of its December meeting.

One of the main drags on the market were the shares of the electric car manufacturer Tesla Incwhich fell 12.24% to an August 2020 low after reporting a miss on Wall Street estimates for its quarterly deliveries.

On the other hand, the titles of Apple Incthe largest company by capitalization in the United States, sank 3.74% to its lowest level since June 2021, after a Nikkei Asia report pointed to weaker demand for its flagship product.

The energy sector, which performed well in 2022 due to the war between Russia and Ukraine among other factors, started the year in the red due to a fall in oil prices due to gloomy business data from China and its Covid figures.

The main stock indices in the United States come from registering in 2022 their biggest annual losses since 2008, after the fastest pace of rate hikes by the Federal Reserve since the 1980s to curb persistent inflation.

Those on Wall Street will be looking closely on Wednesday at the minutes of the Federal Reserve’s December policy meeting, in which the central bank raised its interest rate by 50 basis points after four consecutive 75 basis point hikes.

jose.rivera@eleconomista.mx