Wall Street in a tailspin, rates rise after strong private job creation

As the market awaits official June employment data for the country to be released on Friday, the Dow Jones was down 0.71%, the Nasdaq tech index was down 1.00% and the broad S&P 500 index was down 0.88% at the open. .

Rates on two-year Treasury bonds were at their highest level since 2006, at 5.07%.

The New York stock market ended slightly lower on Wednesday, little surprised by the minutes of the latest Federal Reserve meeting on monetary policy, which suggests more interest rate hikes this year.

The Dow Jones index lost 0.38% to 34,288.64 points, while the Nasdaq technology index lost 0.18% to 13,791.65 units, and the S&P 500 0.20% to 4,446.82 points.

According to extracts from the minutes of their last meeting on June 14 and 15, “almost all” of the members of the Fed’s monetary committee voted in favor of a pause in interest rate hikes, but they estimate that to bring inflation down to its 2% target, further adjustments will be needed.

FUENTE: With information from AFP

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