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Wall Street opens in red and the Dow Jones falls 0.25%

Wall Street opened this Friday in red and the Dow Jones Industrials, its main indicator, lost 0.25%, thus approaching closing the week in red.

Ten minutes after the start of operations on the New York Stock Exchange, the Dow Jones stood at 34,389 units and the selective S&P 500 subtracted 0.45%, up to 4,350 points.

For its part, the composite index of the Nasdaq market, in which the main technology companies are listed, subtracted 0.84%, up to 13,204 integers.

Investors analyze what could be the next steps of the Federal Reserve (Fed) of the United States.

Investors are concerned after central bank officials said in the Fed’s July meeting minutes released Thursday that additional tightening may be needed to reduce inflation.

“Most participants continued to see significant upside risks to inflation, which could require further tightening of monetary policy,” the minutes published Wednesday state.

The federal funds rate is currently in a range between 5.25% and 5.5%.

The Dow Jones is on track for its worst week since March, down 2.29% through Thursday.

While the S&P 500 is heading for a third straight week of losses, a streak not seen since February.

For its part, the Nasdaq Composite is also headed for a third consecutive week with losses for the first time since December.

By sectors, red reigned, the only gains were for public services, essential goods and energy, with increases of 0.09%, 0.08% and 0.02%, respectively, while the The greatest losses were for communications and technology, which fell by 1.27% and 0.86%, respectively.

Among the 30 Dow Jones stocks, the biggest losses were for Amgen (-0.96%) and Microsoft (-0.88%), while the biggest gains were for Walmart -a company that published business results on Thursday- (1, 71) and UnitedHeath (0.47%).

Source: Elcomercio

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