NEW YORK (dpa-AFX) – Even after three weak trading days of the leading US index Dow (Dow Jones 30 Industrial) in a row, it did not recover on Wednesday can pick up. After temporary but manageable price gains, the Dow Jones Industrial lost another 0.96 percent to 35,028.65 points. It came under increasing pressure in late trading, slipping to its lowest level in almost a month.
In the past few days, high inflation and the associated expectation of a significantly more restrictive monetary policy by the US Federal Reserve had weighed on the stock exchanges. Yields on the US bond market fell slightly on Wednesday, but this did not provide any relief on the stock markets.
The market breadth S&P 500 closed down 0.97 percent at 4532.76 points. The tech-heavy NASDAQ 100, which had come under more pressure recently, fell 1.07 percent to 15,047.84 points and even fell to its lowest level in three months.
Breakers are speculating that the US Federal Reserve could raise interest rates in March by more than the previously expected 0.25 percentage point. It would tackle persistently high inflation in the United States with a higher interest rate hike.
The consumer goods giant Procter & Gamble (ProcterGamble) increased its sales target for the fiscal year running until the end of June after a strong quarter . In the second fiscal quarter, sales climbed by six percent. Business with household and health products was the main driver. Procter shares rose 3.4 percent at the top of the Dow.
Big insurer UnitedHealth outperformed in the second Corona year his profit target, which was raised several times. Net income attributable to shareholders for 2021 was $17.3 billion, up 12 percent year-over-year. UnitedHealth shares gained 0.3 percent.
Investment bank Morgan Stanley fell in the fourth quarter of 2021 performed surprisingly well in stock trading. Sales increased by 13 percent here, analysts had hardly expected any change compared to the corresponding quarter of the previous year. The stock gained 1.8 percent.
The Bank of America ended 2021 differently from other US -Money houses also with a surprisingly good quarter. Thanks to increased income and the reversal of provisions for loan defaults, the institute earned significantly more than a year earlier. The share price increased by 0.4 percent.
Ford (Ford Motor) shares suffered almost eight percent. Here, as the day before, investors made price gains after the papers had increased by more than 70 percent since the beginning of October.
The euro recovered a little from the losses of the previous day. The shared currency was trading at $1.1345 in late US currency trading. The European Central Bank had previously set the reference rate at 1.1345 (Tuesday: 1.1367) dollars. The dollar had thus cost 0.8815 (0.8797) euros.
In the US bond market, the yield on ten-year bonds initially marked another high in more than a decade, but then gave up somewhat after. Most recently it was 1.85 percent. In return, the futures contract on ten-year Treasuries (T-Note Future) rose by 0.20 percent to 127.62 points./bek/nas
— By Benjamin Krieger, dpa- AFX —
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