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US stocks, Nasdaq, fall the most since the financial crisis after a few weeks of loss

new York [US], January 22 (ANI / Sputnik): Wall Street suffers weeks of losses caused by a series of rate hike concerns to curb inflation, so US equities are the worst since the 2008 financial crisis. I was heading for the moon.

The tech-bound Nasdaq Index, the investor’s beloved after the outbreak of the coronavirus, traps Americans at home and relies on video streaming and gadgets for work, but this in January So far it has decreased by 11%. This is more than 10% of the losses incurred during the COVID-19 pandemic in March 2020, the highest since the financial crisis of October 2008.

The SP500 index, which represents the top 500 US stocks, fell 8% in January, compared to nearly 13%, the largest monthly loss before March 2020.

The Dow Jones Industrial Average, which represents the stock of the entire US industry, fell 6% in January, the highest since the 14% fall in March 2020.

“Wall Street is out of the debate about how aggressive it should be to rotate from technology to cyclically and market everything,” said Ed Moya, an analyst at online trading platform OANDA. Another concern for investors is that expectations for profit growth are too optimistic, with soaring labor costs and low prices. Geopolitical risks are also adding fuel to sales pressure, he added.

The Federal Reserve has reduced US interest rates to near zero after the COVID-19 crisis and has since maintained US interest rates to support recovery.

As a result, the US Consumer Price Index rose 7% in the year to December, with trillions of dollars in bailout spending by the government, increased wage payments by businesses, and pandemics. The Federal Reserve is now saying that a series of rate hikes may have to be implemented to combat such inflation. (ANI / Sputnik)

US stocks, Nasdaq, fall the most since the financial crisis after a few weeks of loss

Source link US stocks, Nasdaq, fall the most since the financial crisis after a few weeks of loss

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