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Wall Street Chains Four Days In The Red, Dow Jones Loses 0.86%

Wall Street Chains Four Days In The Red, Dow Jones Loses 0.86%

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May 4, 2023 7:31 PM PM.

The New York stock market posted its fourth straight day in the red Thursday and the Dow Jones Industrial Average, its main benchmark, lost 0.86% amid new difficulties for the US regional bank, and as investors searched for safe values.

At the close of the session on Wall Street, The Dow Jones index stood at 33,128 points and entered negative territory so far in 2023. The S&P 500 fell 0.72% to 4061, while the Nasdaq Composite fell 0.49% to 11966.

Once again, many regional US banks were in the crosshairs of investors for fear of contagion after the intervention and subsequent sale of First Republic Bank, which was absorbed by giant JPMorgan Chase on Monday.

GenerallyThe financial sector was the worst unemployed this Thursday, with a decline of 1.29% and losses also for large institutions such as JPMorgan Chase, which fell by 1.32%.

Investors digested the new interest rate hike released by the Federal Reserve on Wednesday and seem to be betting on safe-haven values ​​such as gold and public debt at the expense of the stock market. Of all the sectors on Wall Street, only real estate and utilities are completed in the green.

Of the 30 values ​​that make up the Dow Jones Industrial Average, half a dozen closed positive, led by Intel (2.34%), Amgen (1.13%) and Dow (0.68%). On the other hand, the biggest losses were shares of Disney (-3.38%), Home Depot (-2.50%) and Caterpillar (-2.43%).

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EFE