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Wall Street opens in the red and the Dow Jones loses 0.58%

Wall Street opened this Thursday in the red and the Dow Jones Industrials, its main indicator, lost 0.58%, when investors digest the message from the Federal Reserve (Fed) that it will continue to increase interest rates.

Ten minutes after trading began, the Dow Jones Industrial Average fell 185.18 points to 31,962.58, while the selective S&P 500 fell 0.96%, or 36.21 units, to 3,723.48.

The composite index of the Nasdaq market, where the main technology companies are listed, was the one that fell the most with 1.03%, or 108.63 units, to 10,416.17.

This continues the trend from yesterday, when the S&P 500 fell 2.5% and the Nasdaq lost 3.4% after Fed Chairman Jerome Powell said the central bank had a long way to go before it could consider pausing. increases in interest rates.

In addition to the stock market, the announcement of the central bank’s plan caused bond yields to soar and the dollar to strengthen.

For its part, the Bank of England today followed the Fed in raising rates by 0.75 percentage point, the biggest rate hike by the UK central bank since 1989.

This morning the only sector that woke up in green was energy (0.53%), while technology (-1.69%) and real estate (-1.25%) were the ones that depreciated the most.

Among the 30 Dow Jones listed companies, the biggest gains during the first bars went to Boeing and the most affected were Apple (-2.08%) and Visa (-1.98%).

Elsewhere, Texas oil fell 2.32% to $87.91 a barrel, the 10-year Treasury yield rose to 4.159%, gold fell to $1,620.5 an ounce and the dollar gained ground against to the euro, with an exchange rate of 0.9752.

With information from EFE

Source: Elcomercio

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