Wall Street opens in the red, Dow down 0.3%

New York, June 2 (EFE). – Wall Street opened Thursday in the red and the Dow Jones Industrial Average fell 0.3%, at a time of volatility in the stock market and with shareholders worried about rising inflation, the highest in four decades. In the United States, as well as a possible recession.

Fifteen minutes after the floor opened, the Dow Jones lost 99.23 points to 32714.00, while the S&P 500 selectively dropped 0.25%, or 10.06 units, to 4,091.05.

The Nasdaq Market Composite Index, where major technology companies are listed, fell 0.04%, or 4.97 integers, to 11,989.49.

Investors are closely watching the moves of the US Federal Reserve (Fed) to gauge the extent and speed of the central bank raising interest rates in an attempt to tame inflation.

Some shareholders worry that tightening policy could slow economic growth or even push the United States into recession.

“It’s a very challenging environment. There are a lot of factors at play here, and it’s very difficult to explain the dynamics,” Saxo Bank’s head of equity strategy, Peter Garnery, told The Wall Street Journal.

“We believe that the Fed must be very aggressive to control inflation,” the expert added.

By sectors, the only gains were in raw materials (1.31%), industry (0.57%) and non-essential goods (0.44%); As well as losses in real estate (-1.27%), health (-1.02%) and basic commodities (-0.74%).

Among Dow Jones companies, the companies with the highest earnings this morning were Boeing (3.09%), Visa (1.69%) and Nike (1.26%); While the largest losses were for Microsoft (-2.27%), Amgen (-2.25%) and Merck & Co (-1.58%).

Elsewhere, Texas oil rose to $115.73 a barrel, the 10-year Treasury yield rose to 2.94%, gold rose to $1,867.60 an ounce, and the dollar lost ground against the euro, at an exchange rate of 1.07. EFE

syr / fjo / pddp

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