Wall Street closes lower and the Dow Jones falls 0.83%

Wall Street closed this Friday in red and its main indicator, the Dow Jones Industrial Average, fell 0.83%, almost completely erasing the gains of the previous day.

At the end of trading on the New York Stock Exchange, the Dow Jones stood at 34,619 points, while the selective S&P 500 fell 1.22% to 4,450 points.

The Nasdaq composite market index, which groups together technology companies, fell the most, 1.56%, to 13,708 units.

At its lowest point, the Dow completely erased Thursday’s gains, when the successful IPO of British technology company Arm boosted investors’ hopes for a revival in capital markets.

On the other hand, the main economic news of the day in the United States, the announcement of the strike of thousands of workers at three assembly plants of General Motors, Ford and Stellantis, has barely affected the capitalization of the three giants.

Investors’ eyes are on the Federal Reserve (Fed), which will meet next week to decide whether to raise interest rates or keep them at their current level, between 5.25 and 5%.

Most analysts expect the US central bank to pause its increases to evaluate the effects of high rates on the economy, despite recent data that points to the persistence of inflation.

By sectors, all closed in red, with the largest falls being technology (-1.95%), non-essential goods (-1.88%) and communications (-1.11%).

Among the 30 companies in the Dow Jones, almost everything was a loss, with the most affected being McDonalds (-2.29%), Microsoft (-2.5%) and Home Depot (-2.5%). Only Walt Disney (1.3%) and American Express (1.22%) closed higher

In other markets, Texas oil rose to $90.45 per barrel, and at the close of the stock market the 10-year bond grew at 4.33%, gold rose to $1,944.9 per ounce and the dollar lost ground against the euro, with a change of 1.0656.