Monday, October 3, 2022
HomeBusinessDow Jones Closes At 2022 Low As Buyers Pull Again In 'Uniquely...

Dow Jones Closes At 2022 Low As Buyers Pull Again In ‘Uniquely Difficult Interval’

Markets are reacting poorly to newly introduced Fed measures this week to boost rates of interest, fanning fears of a world recession that’s turning into extra palpable.

  • The Dow Jones reached its lowest shut of 2022, dropping 486 factors, or 1.62%, to shut at 25,590. The 30-company index broke the 30,000 degree for the second time this yr for a 3.69% loss this week and 19.12% since January. 
  • The S&P 500 misplaced 1.72% to shut at 3,693. The index is down greater than 4% since Monday and 23% year-to-date. 
  • The Nasdaq Composite was down 1.8% on the shut for a drop of three.69% on the week and 19.12% since January. 

Yields for Treasury bonds proceed to rise, with the two-year be aware settling comfortably above the 4% mark at 4.2%.

Federal Reserve Chair Jerome Powell stated at a “Fed Listens” occasion on Friday that his company continues its work to get better from the pandemic in what he termed a “uniquely difficult interval.”

Picture by Ussama Azam on Unsplash.



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