The most important indices of Wall street fell on Thursday as a surge in U.S. equities faded late in the session amid doubts among investors about stock prices after the slump in early 2022 caused a correction in the Nasdaq.
Major US indices rose sharply for much of the day, after falling sharply at the start of the week. On Wednesday, the Nasdaq closed 10.7% below its November all-time high, confirming a correction.
“There seems to be a lack of conviction,” said Randy Frederick, vice president of trade and derivatives at Charles Schwab. “Dip buyers step in, but then run out of momentum.”
The S&P 500 lost 50.03 points, or 1.10%, to 4,482.73 units, while the Nasdaq it fell by 186.24 points, or 1.30%, to 14,154.02. The Promedio Industrial Dow Jones it fell by 313.26 points, or 0.89%, to 34,715.39 units.
Shares start to falter in 2022 as a rapid rise in treasury yields on fears that the Federal Reserve (Fed) to become aggressive in controlling inflation has hit technology and growth stocks particularly hard.
The returns of Treasury bonds they were relatively flat on Thursday, after falling from two-year highs on Wednesday.
“Just the fact that they did not go higher … at least for today is a welcome respite from the steady rise to the upside we have experienced,” said David Joy, chief market strategist at Ameriprise Financial.
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Reference-www.eleconomista.com.mx