The Dow fell more than 200 points, nearing the 30,000 mark, pressured by the dollar’s appreciation. and the rebound in US government bond yields
At 9:10 p.m. Thai time, the Dow Jones Industrial Average was 30,050.15 points, minus 223.72 points, or 0.74%.
The strength of the dollar has raised investors’ fears that it will affect the bottom line of listed companies with foreign earnings. The rebound in the US 10-year Treasury Bond, which is the US government bond used to set the price of global bonds. including US mortgage interest rates will make consumers have less money for spending while the cost of paying off mortgage loans increases And companies will face higher costs of debt settlement. causing these companies to reduce their investment and reduce dividend payments to investors
Real estate stocks fell more than 2 percent as they were hit hard by the Federal Reserve’s interest rate hikes.
However, energy stocks rose against the market. Responded to the resolutions of the Petroleum Exporting Countries (OPEC) and its allies. or OPEC Plus to cut production by 2 million barrels per day
Oil prices have rebounded today. After falling initially as President Joe Biden announced to drain oil from reserves in retaliation for OPEC Plus.
The number of first-time claims for unemployment benefits rose 29,000 to 219,000 last week, the Labor Department said. and exceeded the 203,000 analysts expected.
The number of claims for unemployment benefits is above 215,000, the weekly average in the pre-COVID-19 pandemic.
Meanwhile, the US Department of Labor reported that The number of Americans who continue to apply for unemployment benefits. increased to 1.36 million
Market to keep an eye on the number of non-farm payrolls tomorrow While analysts predicted that The number of jobs added just 265,000 in September. After rising 315,000 jobs in August and the unemployment rate is expected to remain stable at 3.7%.