ROUNDUP / Aktien New York Conclusion: Enthusiasm dwindles – tech stocks plummet
The bull in front of the New York Stock Exchange. pixabay.com
NEW YORK (dpa-AFX) – On Wall Street, after the euphoria of the previous day, disillusionment has spread again. After the clearer monetary policy direction of the US Federal Reserve (Fed) had caused great joy on Wednesday, renewed interest rate worries on Thursday put economic-sensitive technology stocks in particular under pressure. The fact that the British central bank is unexpectedly resisting high inflation and surprisingly raised its key rate for the first time in the corona pandemic caused irritation.
The technology-driven Nasdaq 100
The leading index Dow Jones Industrial
The US Federal Reserve wants to accelerate its exit from the extremely loose monetary policy and raise interest rates more quickly in the coming year. The background to this is the high inflation, which recently marked a 39-year high. The Fed no longer sees inflation as a temporary problem.
Central banks around the world are currently weighing up how to counter the high inflation in a balanced way. On Wednesday, US investors were still betting that central bankers could take such steps without halting economic growth. This Thursday, however, after the interest rate decisions by the British central bank and the European Central Bank, among others, doubts grew. In the euro area, there is no end in sight to the low interest rates. In China, the central bank is tending towards further easing.
“While there seems to be agreement among central banks around the world when it comes to easing, there is a big gap in the way in which all those involved imagine the end of the expansive monetary policy,” wrote market analyst Jochen Stanzl from trading house CMC Markets. For the stock market, this patchwork of monetary policy is unsettling and therefore “not exactly building confidence”.
Among the biggest winners in the S&P 500 were the papers of the telecom company AT&T
Accenture shares (Accenture shares)
HSBC Trinkaus & Burkhardt AG
— By Lutz Alexander, dpa-AFX —
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