Tuesday , October 26 2021

It was not a happy Christmas on Wall Street: the New York Stock Exchange suffered the worst Christmas Eve of its history



[ad_1]

Industrial Dow Jones, the leading Wall Street indicator, fell 2.91 percent at 653.17 points, while the S & P 500 dipped 2.71 percent, or 65.52, the Nasdaq composite index lost 2 , 21% or 140.08 integers.

Christmas did not bring gifts to the markets, but to charcoal. All indicators fell more than 2 percent and the S & P 500 finally stood on the edge of the bear market in a half-day session on the worst Christmas Eve that is remembered in Wall Street and the most sinister of December since the Great Depression.

Industrial Dow Jones, the main indicator of Wall Street It fell 2.91%, 653.17 points, while the selective S & P 500 fell 2.71%, or 65.52 units, the compound index of the Nasdaq market lost 2.21%, or 140.08%.

While investors have been weeks of turmoil due to the symptoms of slowing international economic growth and US trade tensions. with China, their concerns have gathered in the last few hours for the closure of the US government, a blockade that is in its third day in a row due to the lack of a budget agreement between Republicans and Democrats.

President Donald Trump felt sorry for himself for being "completely alone" in the presidential mansion and was relieved with Twitter before the situation.

"I'm alone (poor me) in the White House waiting for the Democrats to come back and make a border security agreement, desperately needed, if, at some point, the Democrats do not want to reach an agreement, it will cost them our country much more money than the border wall, what madness!

There is a lot of nervousness in the markets, but also in the White House, where Trump also blames Federal Reserve Chairman Jerome Powell for the markets, then under the same Fed leader. Trump assumes that thanks to the new government Wall Street I did not stop making money.

Mr. Trump said today that "the only problem" of the US economy is the Fed, because the agency "has no tact with the market" and does not "understand" the trade disputes in which the country is immersed. It has already been a direct attack on Powell, whom he can not cease presidential.

Such is the situation in the White House that US Treasury Secretary Steven Mnuchin spoke over the weekend by telephone with the directors of the six major US banks in an attempt to provide guarantees to the markets.

Mr. Mnuchin told them he would convene a meeting of financial regulators to discuss ways to ensure "normal market operations."

All this has generated even more fears among investors. A relevant fact: For the third consecutive day, more than 2,600 shares listed on the New York Stock Exchange reached a 52-week low, reflecting a large number of sales since they have not been seen in the market since the crisis hit. from a decade ago.

Storm clouds have already reached Wall Street, and that despite the fact that the US economy is going strong. But Trump resolves issues like the closing of the Administration and its tense trade relations with China or the markets may end up dragging everything after that black Christmas.

[ad_2]
Source link