Wall Street takes a beating in the absence of positive news (Getty)
Did not benefit US stocks From its national team’s victory over Iran, and its promotion to the next round in the FIFA World Cup, the Nasdaq and S&P 500 indices fell, while the Dow Jones Industrial Average ended Tuesday’s trading at almost the same point at which it began.
And after the stocks began their dealings with a hint of optimism, with the rise of most Asian stock exchanges, and overcoming the negative results Associated with the Chinese “zero Covid” policy, the declines began before the middle of the day, which ended with most stocks in red zonefor the third day in a row.
The Nasdaq index lost 0.59% during today’s trading. of its value, while the S&P index declined 500 by 0.16%.
Investors are now looking forward to a speech that Federal Reserve Chairman Jerome Powell will give on Wednesday at the Brookings Institution, as well as to the jobs data due on Wednesday and Friday, in an attempt to extract directions. central bank The largest in the world, in terms of monetary policy, in the coming weeks.
Oil prices rose on Tuesday on expectations that China will ease strict restrictions related to Covid-19, but fears that the OPEC + group will keep its production unchanged at its next meeting limited the gains.
Brent crude futures settled at $83.03 a barrel, down 0.2%, while US West Texas crude futures rose 1.2%, recording $78.20 a barrel upon settlement.
China’s health officials have said it intends to accelerate COVID-19 vaccines for the elderly, aiming to overcome a major stumbling block in efforts to ease “zero Covid” restrictions that have frustrated millions, both inside and outside the world’s second-largest economy.
Rare protests of its kind across China at the weekend targeted President Xi Jinping’s “zero Covid” policy, which analysts specializing in China told Archyde.com represented the strongest public challenge to him throughout his political history.
In connection with the matter, the dollar index fell to 106.65, abandoning the highest level in 20 years, with investors looking forward to the Federal Reserve (the US Central Bank) reaching the pivotal point, in which it changes its policies aimed at restricting the economy, in a short period.