Wall Street opens in red and the Dow Jones falls 0.34%

Wall Street opened in red and the Dow Jones Industrials, its main indicator, fell 0.34%, thus continuing yesterday’s downward trend.

Ten minutes after the start of operations on the New York Stock Exchange, the Dow Jones stood at 34,524 units and the selective S& 500 subtracted 0.39%, up to 4,479 points.

For its part, the composite index of the Nasdaq market, in which the main technology companies are listed, fell 0.40%, to 13,965 integers.

Yesterday, Saudi Arabia and Russia announced that they will extend their voluntary supply cuts by three months, until the end of this year.

Investors now fear that a lower supply of black gold will push up the price of crude oil and this in turn will fuel inflation.

Investors will be looking closely at new inflation data this month ahead of the Federal Reserve (Fed) meeting.

The US central bank will hold a two-day meeting starting on September 19 and will announce its decision on whether or not to raise interest rates on September 20.

By sectors, red reigned and the only gains were for energy, which rose 0.35%; while the greatest losses were for sanitary and non-essential goods, with decreases of 0.85% and 0.71%.

Among the 30 Dow Jones stocks, the biggest losses were for Merk (-2.21%) and Johnson & Johnson (-1.77%), while the biggest gains were for Salesforce (0.44%) and Caterpillar (0 .33%).