The three main stock indices of the US market operate with heavy losses this Monday. wall street retreats due to the advance in the yield of US bonds, amid expectations about an aggressive increase in the rates of the Federal Reserve and concerns about the Chinese economy.
benchmark index S&P 500, which brings together the 500 strongest stations in the market, lost -2.30% to 4,028.43 points. The dow jones, made up of the shares of 30 industrial giants, loses -1.30% to 32,402.39. The Composite Market Index nasdaqof high technological weight, moves -3.10% to 11,768.46 points.
Inflation, which remains in the United States at a 40-year high, continues to be the main concern of investors, in a context of war in Europe, and with the central bank willing to further raise its key rate. A surge of Covid-19 in China turns into pressure on the world’s second largest economy.
“The dollar is at a 20-year high, as risk aversion grows due to the effects of policies against Covid-19 in China and inflation. As if this were not enough, the massive sale of shares of Rivian by Ford and Amazon affects the mood among investors,” the eToro platform explained in a report.
Shares of Rivian Automotive, a company that makes electric cars, lost -16.60% at a price of 24.01 dollars. Shares of this company have lost more than two-thirds of their value since they went public just half a year ago. The company has not presented benefits in its corporate reports.
Within the Dow Jones, the losses of the aerospace company Boeing stand out, falling -7.19%; Chevron, with -5.09%; Visa, with -3.96%, and the Caterpillar construction machinery company, with -3.25 percent. In the largest issuers in the market, Microsoft papers fall -3.11%, and those of Apple Inc, 3.03 percent.