WALL STREET ENDS DOWN
PARIS (Archyde.com) – The New York Stock Exchange ended lower on Wednesday, weighed down by the minutes of the December meeting of US Federal Reserve policymakers indicating that the Fed may raise rates sooner than expected.
The Dow Jones index, which had reached a new record in session, finally turned down and gave up -1.07%, or 392.54 points, to 36,407.11 points.
The larger S & P-500 lost 92.96 points, or -1.94%, to 4,700.58 points.
The Nasdaq Composite fell by 522.54 points (-3.34%) to 15,100.17 points.
US Federal Reserve (Fed) policymakers said at their meeting last month that the US job market was “very tight” and that the central bank may not only have to raise interest rates earlier than expected, but also reduce its balance sheet to control high inflation.
Policymakers have decided to speed up the end of the support measures deployed by the US central bank to offset the impact of the coronavirus health crisis.
“It’s more offensive than expected. This shift towards a more offensive stance might be problematic for equity and bond markets,” said David Carter, chief investment officer at Lenox Wealth Advisors in New York.
VALUES
Technology stocks were particularly penalized. The technology segment of the S&P 500 posted the largest decline in the S&P 500.
(Report Caroline Valetkevitch, French version Matthieu Protard)
.
