Wall Street ended another week of losses as stocks fell to two-month lows.

A worker at the New York Stock Exchange (Reuters/Andrew Kelly)

Actions fell sharply on Wall Street, He left the market with another week of big losses as a stark warning of FedEx About rapidly deteriorating trends in the economy, giving investors more cause for concern.

The Standard & Poor’s 500 decreased 0.7% Nasdaq lost nearly 1% and daw Jones Almost half a percentage point. FedEx suffered its biggest loss ever after it said a sharp decline in its business has occurred It got worse in recent weeks.

The markets were already on hold for persistent inflationas well as the height in interest rates It is applied to combat it, which will slow down the economy.

reference index Standard & Poor’s 500 fell under the mark 3900 pointsa level that traders consider a major support, which was dragged lower by a crash 23.4% of FedEx Corp. shares.

FedEx stock was headed for its worst day ever after the company said the slowdown in global demand It got worse in late August and is expected to get worse in the November quarter.

The The S&P 500 is now just 5.8% above its closing low in mid-Juneas Wall Street’s summer rally began to lose steam amid fears of a… hill climbing US interest rates and earnings growth deteriorate.

The market expects the US Federal Reserve to implement The third increase in a row of interest rates in 75 basis points At its meeting next week, after the latest data did not change the expected course of monetary tightening.

The world bank He announced that the global economy may be approaching recession, while the International Monetary Fund said it expects a slowdown in the third quarter.

September, a seasonally weak period for markets, will also see the Federal Reserve He accelerates the reduction of his balance to 95,000 million dollars per montha move some investors fear could increase market volatility and hurt the economy.

Meanwhile, the options’ monthly expiration week, which ends on the third Friday of every month, has been marked with a volatility Higher than usual this year as options hedging activity amplified market moves.

strategist Goldman Sachs They noted in a note that $509 billion in individual stock options are set to expire Friday, up 10% from last month’s expiration and 30% more than in July.

in the middle, The S&P 500 is down 1.8% in the weeks to options expirationAgainst an average weekly gain of 0.09% in the weeks without expiration, according to a Reuters analysis.

(With information from Reuters)

Read on:

Year-on-year inflation in the US fell less than expected: it was 8.3 percent

Leave a Comment