I retreated US stocks At the open today, Tuesday, as investors await the business results season to assess the impact of raising interest rates and inflation on corporate profits, but the rise in Amgen Pharmaceuticals limited the losses on the Dow Jones index.
The Dow Jones Industrial Average fell 117.68 points, or 0.40%, to open at 29,085.20 points.
The Standard & Poor’s 500 index fell 16.53 points, or 0.46%, to 3,595.86 points, according to Archyde.com.
The Nasdaq Composite Index fell 57.73 points, or 0.55%, to 10,484.37 points at the open.
Global markets expert, Nawras Hafez, said that global markets are witnessing a rise in fear due to the policies of the US Federal Reserve.
In an interview with Al Arabiya, Hafez added that the Fed made it clear that it would continue raising interest rates until next December, and then there would be a waiting period following interest rates reached 4.4%.
He pointed out that waiting for inflation data might decline on the annual reading level for the basic indicator, and therefore stability or a slight decline will allow the Fed to continue its tightening policies.
Hafez explained that the return of the momentum to risk in the markets will be in the first quarter of next year, following the great pricing of the economic slowdown and the strength of the dollar and corporate profitability.
