|Symbol||Price||To change||%To change|
US stocks were down on Monday as investors braced for another rate hike expected by the US Federal Reserve later this week.
On Friday, a stern warning from FedEx about rapidly deteriorating trends in the economy gave investors more worries. The S&P 500 fell 0.7%, while the Nasdaq lost almost 1%. The Dow lost nearly half a percent.
The S&P 500 fell 0.7% to 3,873.33. It is now down 18.7% so far this year. The Dow Jones Industrial Average fell 0.5% to 30,822.42 and the Nasdaq 0.9% to 11,448.40.
Manufacturers of household goods, which are generally considered less risky investments, held up better than the rest of the market. Campbell’s soup rose 1.3%.
Higher interest rates tend to weigh on equities, especially the more expensive tech sector.
Technology stocks within the S&P 500 are down more than 26% for the year, and communications companies are down more than 34%. These are the worst performing sectors in the benchmark index year to date.
The housing sector is also suffering from the rise in interest rates. Average long-term mortgage rates in the United States rose above 6% this week for the first time since the housing crash of 2008. Rising rates could make an already tight housing market even more expensive for buyers.
Reports this week from the government showed that the prices of just about everything except petrol continue to rise, the labor market is still hot and consumers continue to spend, giving ammunition to Fed officials who say the economy can tolerate more rate hikes. .
Markets are on edge with stubbornly high inflation and interest rate hikes being used to combat it. The fear is that the Fed and other central banks will overshoot their policy targets, triggering a recession. Most economists expect the Fed to raise its primary lending rate another three-quarters of a point when central bank leaders meet this week.
The point is, hawkish US inflation-based expectations under the hood mean markets have good reason to brace for headwinds in a higher rate outlook (for longer); and arguably higher for longer “USD (dollar) as well,” Mizuho Bank’s Vishnu Varathan said in a comment.
The S&P 500 fell 4.8% for the week, with much of the loss coming from a 4.3% rout on Tuesday following a surprisingly hot inflation report. All major indexes have now posted losses in four of the past five weeks.
Meanwhile, in Asia on Monday, Hong Kong’s Hang Seng fell 1.1% to 18,558.18 while the Shanghai Composite Index lost 0.6% to 3,106.57. Australia’s S&P/ASX 200 edged down 0.1% to 6,732.20. In Seoul, the Kospi fell 1.2% to 2,355.31. J
Japan’s central bank meets Wednesday and Thursday amid growing pressure to counter a sharp decline in the yen, which is trading near 145 to the dollar after sharp increases in the value of the greenback. This has increased costs for businesses and consumers, who must pay more for imports of oil, gas and other basic necessities.
However, the Bank of Japan has so far held firm by maintaining an ultra-low benchmark rate of minus 0.1% in hopes of boosting investment and spending.
The mention sources can contact us to remove/changing this article
What Are The Main Benefits Of Comparing Car Insurance Quotes Online
LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos
to request, modification Contact us at Here or [email protected]
- Is juvenile cancer a new pandemic?
- Nearly 75% of long-term COVID patients recover after one year, study finds
- Studies suggest frozen embryos are at increased risk of hypertension-related pregnancy complications
- PM Modi’s visit to Japan aims to honor memory of ‘dear friend’ Abe, says Foreign Secy
- Women’s tennis: Macalester participates in ITA Regional
- ‘The White Lotus’ star Alexandra Daddario’s plunging high slit dress has fans floored
- 8 earthquakes in 10 days Gault Sumatra; BMKG explains
- A Florida state senator has sued DeSantis to stop more migrant flights
- Nuggets: A Roundup of the College Football Schedule’s Biggest Games
- Putin grants Russian citizenship to US whistleblower Snowden | Edward Snowden short stories
- NASA spacecraft to collide with asteroid Monday night in unprecedented dress rehearsal for Real Killer Rock | Chicago News
- Duchess of York among famous faces whose details leaked to Dark Web by Russian hackers | Entertainment