US stock indices closed the trading session on Friday, September 23, 2022 (the end of trading week) sharply lower, affected by fears of recession in conjunction with efforts to control inflation after the US Federal Reserve’s decision to raise the interest rate by 75 basis points for the third consecutive meeting.
American indices in the session Friday, September 23, 2022
The Dow Jones Industrial Average declined during Friday’s trading, by 1.6 percent, or 486 points, to close below the 30,000 points level, recording 29,590 points, its lowest level in a year.
The broader “Standard & Poor’s 500” index also fell by 1.7%, or 64 points, to record 3,693 points.
The “Nasdaq” index fell by 1.8%, or 199 points, to record the level of 10,867 points.
Strong rise of the US dollar
The US dollar index witnessed strong gains today, reaching its highest level in 20 years, with the sterling falling to its lowest level in 37 years after the announcement of a British government plan to cut taxes that threatens to accelerate inflation and raise debt levels.
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The performance of US stocks in the session Friday, September 23, 2022
Shares of the energy sector recorded strong losses during Friday’s trading, with oil prices falling by 5%, as “Marathon Oil” shares fell by 10.9%, and “Chevron” and “Exxon Mobil” shares decreased by 6.5% and 5.3%, respectively. .
Goldman Sachs lowered the target for the S&P 500 index of US stocks this year, due to higher interest rates.
Read also.. US stocks fell at the close of trading on Wednesday, after the Fed’s decision to raise interest rates
European and Japanese stocks in the session Friday, September 23, 2022
With regard to European markets, during the session on Friday, September 23, 2022, the “Stoxx 600” index fell by 2.3%, equivalent to 9 points, to record the level of 390 points, and the French “CAC” index fell by 2.3% by about 135 points, recording the level of 5783 points. .
The German “DAX” index fell by 2% by about 247 points at the level of 12,284 points, and the British “FTSE 100” index fell by about 2%, or the equivalent of 140 points, to record 5783 points.
In Japan, the Japanese stock exchanges are closed for a public holiday today in observance of the Autumnal Equinox.