Inflation became the main topic last week, while Friday’s trading session highlighted sentiment on Wall Street perfectly. The Dow Jones index recorded over 400 points of decline, while the technological Nasdaq slightly less – 340 points. Investors will now wait for the next dose of information on inflation in the country.
Wall Street indices recorded further declines
Friday’s session was marked by relatively strong pullbacks
This time the indices may need a stronger excuse for growth
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Friday session lower, Dow Jones recorded over 400 points of decline
Last week the US markets did not perform well, and Friday’s much lower close only sealed the downward accent of the session. Major Wall Street indices fell significantly as investors continued to evaluate the future moves by the Federal Reserve amid continuing hot inflation data. The Dow Jones index at the close on Friday fell by 1.34%, which translated into over 400 points of withdrawal, and the technological Nasdaq 100 index moved back by 3.10%. In his case, it was over 340 points. Moving on, the S&P 500 index declined 2.37%.
Dow Jones index price on October 17, 2022
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I WANT TO INVEST WITH INTERACTIVE BROKERS On that day, US Treasury Secretary Janet Yellen assured that the country’s economy remains resilient despite slowing global growth. Yellen emphasized in her statement, however, that lowering record inflation remains the main priority of Biden’s administration. “The latest CPI figures show there is more work to be done,” Yellen told reporters at an IMF press conference. Meanwhile, Fed chairman Raphael Bostic said he had failed to properly disclose financial transactions in the past five years in a leading position at the bank, saying he had misinterpreted policy. More than 150 Bostica investments were made in times of limited trade around the Federal Reserve’s policy meetings. In addition, it had over 50 thousand. dollars in Treasury securities, which is more than the maximum amount allowed. The Fed has launched an independent audit on the matter.
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