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Chinese protests affects the performance of Wall Street

News Date: 29/11/2022 01:22:11
 

Stocks in the United States closed lower at the end of yesterday’s trading, after the Chinese protests against the policies of Covid 19 raised economic concerns, to accompany the shares indices to the downside, as losses were recorded in each of the oil and natural gas sectors, basic materials and the technology sector.

At the end of trading in New York, the Dow Jones Industrial Average fell by 1.45%, while the Standard & Poor’s 500 index fell by 1.54%, and the Nasdaq index fell by 1.58%.

 

Oil futures rose during the Asian session on Tuesday by 0.91%, to trade at $77.94.

 

Gold futures rose by 0.5%, to be traded in December at $1,749.05.

 

It is expected that interest rates will be cut during the year 2024 when inflation disappears, according to what was stated by US Central Bank President John Williams yesterday, and he added that the Federal Reserve will need to reduce monetary policy for some time, and it is likely that the situation will continue as it is during the next year at least.

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