Friday, September 22, 2023

Wall Street chains four days in the red and the Dow Jones loses 0.86%

Wall Street chained this Thursday its fourth consecutive day in red and the Dow Jones Industrials, its main indicator, lost 0.86% amid new difficulties for the regional bank of USA and with investors looking for safe values.

At the close of the session in the Bag from New York, the Dow Jones stood at 33,127.74 points and entered negative territory so far in 2023.

The selective S&P 500 fell a 0.72% up to 4,061.22 units, while the Nasdaq market composite index dropped 0.49% and ended at 11,966.40 integers.

Once again, several US regional banks were in the crosshairs of investors due to fears of contagion after the intervention and subsequent sale of First Republic Bank, which on Monday was absorbed by the financial giant JPMorgan Chase.


The biggest problems were suffered by PacWest, an entity based in The Angels that collapsed more than 50% due to information that, after the recent falls, it is studying alternatives that include a possible sale.

But it was not the only one, as other regional banks also experienced a black day: Western Alliancefor example, fell 38.5%, and First Horizon lost 33% after its merger with TD Bank was cancelled.

Together, the financial sector It was the worst unemployed this Thursday, with a decline of 1.29% and losses also for large institutions such as JPMorgan Chase, which dropped 1.32%.

Investors were digesting today the new rise in interest rates decreed on Wednesday by the Federal Reserve (Fed) and seemed to bet on safe values ​​such as gold and debt public to the detriment of the stock market.

Of all sectors of Wall Street, only the companies Real estate and public services finished the session in green.

Among the 30 values ​​of the Dow Joneshalf a dozen ended positive, led by Intel (2.34%), Amgen (1.13%) and Dow (0.68%).

On the other side, the older losses they were for Disney (-3.38%), Home Depot (-2.50%) and Caterpillar (-2.43%).

Meanwhile, after the strong falls In recent days, the price of Texas oil has stabilized and the barrel ended with a very slight drop in price, up to US$68.56.

In other markets, at the close of the stock market, gold rose to US$2,057.8 an ounce, the yield on the 10-year US bond fell to 3,362% and the dollar gained ground against the euro, with a change of US$1,101.


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