Jakarta, CNBC Indonesia – The United States (US) stock market opened lower on Wednesday (6 /10/2021), amid re-emerging concerns about rising US government bond yields (yield
. Index The Dow Jones Industrial Average was down 250 points (-0.8%) at 08:30 local time (20:30 EDT) and within 15 minutes to 441.5 points (-1.29%) at 33,873.17. The S&P 500 index retreated 48.2 points (-1.11%) to 4,297.54. However, the Nasdaq dropped 141.4 points (-0.98%) to 14,292.39.
“October confirms its reputation as the most volatile month of the year. We expect the volatile market in October to remain in place for a while,” said Ryan. Detrick, analyst at LPL Financial as quoted CNBC International.
Shares of American Airlines and JetBlue became the ballast, each fell 4% in the open following a downgrade from Goldman Sachs in response to rising aviation fuel prices and still low ticket sales.
Cyclic stocks that benefited from the economic recovery such as Boeing, General Electric and Ford also fell by 1%. Likewise, technology stocks such as Facebook, Amazon, Apple and Microsoft are compactly depressed by more than 1%.
Meanwhile, ADP data as of September shared positive news in the form of an additional 568,000 job positions last month, which exceeded economists’ estimates in a Dow Jones poll of 425,000. Investors too monitor progress on settlement of the US debt limit. Treasury Secretary Janet Yellen told CNBC International
warned that the US could fall into a recession if Congress fails to raise the debt limit. before the deadline on October 18th.
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