Wall Street opens mixed and the Dow Jones falls 0.26%

Wall Street opens mixed and the Dow Jones falls 0.26%

New York, Sep 26 (EFE).- Wall Street opened this Monday mixed and its main indicator, the Dow Jones Industrials, fell 0.26%, standing at the gates of the bear market (20% less than its last maximum historical), in a day marked by the fall of the pound sterling and the strengthening of the dollar.

Ten minutes after beginning the session in the New York Stock Exchange, the Dow Jones subtracted 77.77 points, up to 29,512.64; while the selective S&P 500 gained 0.08% or 2.99 units, to 3,696.22.

The Nasdaq market composite index, which brings together the main technology companies, rose 0.69% or 74.79 integers, to 10,942.72

The New York parquet opened mixed after last week the Industrial Dow Jones cut 4%, the selective S&P 500 4.65% and the Nasdaq 5%, in reaction to the rise in interest rates by 75 points basic announced by the US Federal Reserve (Fed).

The Fed raised interest rates again on Wednesday by three-quarters of a point, to 3% and 3.25%, while the Bank of England raised rates by 50 basis points to 2.25% yesterday.

Investors fear a sudden cooling of economic activity due to the rise in money.

Today’s session also highlighted the 4% drop in the British pound against the dollar, which is also hitting highs against the euro.

The aggressive policy of raising interest rates by the Fed has contributed to the strengthening of the dollar against other currencies, while the pound has fallen after the announcement of last week’s tax cut in the United Kingdom.

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By sectors, losses were imposed this morning, with real estate (-1.54%), public services (-0.74%) and health (-0.6%) as the most affected, compared to non-essential goods (0.9%) and technology (0.76%) that led the gains.

As for the 30 companies listed on the Dow Jones, the biggest gains were for Salesforce (1.97%), Apple (1.02%) and Microsoft (0.7%) while the worst results were taken by UnitedHealth ( -1.87%), Johnson & Johnson (-1.22%) and Walmart (-1.1%).

In other markets, Texas oil rose to $79.43 a barrel, the 10-year US Treasury yield rose to 3.761%, gold fell to $1,652.3 an ounce, and the dollar gained ground against to the euro, with an exchange rate of 0.9656.

(c) EFE Agency

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