Monday , March 27 2023

The fall of oil and concern for China hit Vall Street | AmericaEconomy


New York – The three main indexes of Volstritt closed the losses Friday, following poor data on the Chinese economy and a further drop in oil prices that aroused concern about global growth.

* Oil prices fell by almost 1% and accumulated the longest line of daily declines since 1984, overwhelmed by the growth of global crude oil supply and evidence of a slowdown in the global economy.

* "Oil is scaring the market, if oil prices are diminishing, it's another sign that the global economy will slow down growth," said Chris Zaccarelli, the lead investor in the Independent Advisor Alliance.

* Dov Jones Industrial Average <.DJI> lost 201.92 points, or 0.77%, to 25,989.3 units, and index S & P 500 <.SPX> It fell by 25.82 points, or 0.92%, to 2.781,01 units. Nasdak Composite Indek <.IXIC> He lost 123.98 points, or 1.65%, to 7,406.90 units.

* S & P energy sector index <.SPSY> fell by 0.4% after falling to 2.2% at a previous session, when crude oil prices They confirmed the bear market by withdrawing 20% ​​of their newest peak.

* "I think we will go lower than the October low, economic growth is slowing down, but it will not be slow enough to keep the Fed from rising (rates)," said Jim Paulsen, head of investment strategy at Leuthold Group.

* Investors seemed unwilling to take risks, which led to a 1.7% drop in the S & P technology sector <.SPLRCT>. Shares of Apple Inc. lost 1.9%, and those manufacturers of semiconductors <.SOX> They fell 1.9%.

* Eight of the 11 main S & P sectors ended the day in decline. Mass consumption <.SPLRCS> it was the biggest winner with a growth of 0.5%, while other defense sectors such as public services <.SPLRCU> and real estate <.SPLRCR> they recorded modest progress.

* In the midst of a bitter trade dispute between the United States and China, the report showed that the Chinese producer's inflation fell for the fourth month in a row in October due to the cooling of domestic demand and production activities, and also lowered car sales. .[nL2N1XK03O]

* China's report has triggered a decline in global stocks. On Vall Street, the sectors were hit hardest by industry <.SPLRCI>, which lost 1%, and the basic stock <.SPLRCM>, which was reduced by 1.4%.

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