December 9, 2022

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Wall Street refused |  Finansavisen

Wall Street refused | Finansavisen

Long-term interest rates continue to rise to levels not seen in at least a decade. The US 10-year bond rose 2.22 percent to 3,964 at the end of trading. The VIX Fear Index rose 1.24 percent.

The S&P 500 fell 0.21 percent to 3647.29 and was today at its lowest level in 2022, and the Dow Jones fell 0.43 percent to 29137.49. The Nasdaq index closed up 0.25 percent at 10,829.50.

The S&P 500 is now 24.7 percent below the record set in January, while the Dow is down 21.4 percent from its all-time high. The Nasdaq has fallen more than 33 percent since its record high in November.

Stocks got a boost for the first time after Chicago Fed President Charles Evans signaled some concern that the central bank is raising interest rates too quickly to fight inflation. His comments contrast with a string of Federal Reserve comments that have reiterated a tough stance against interest rate hikes.

wide fall

Most of the S&P 500’s eleven sector indices declined, with the weighting of utilities and consumer goods increasing. The energy sector surged after Sweden launched an investigation into possible sabotage following major leaks in two Russian pipelines that spew gas in the Baltic Sea. Microsoft and Alphabet, the parent company of Google, both fell for large parts of the day.

The energy struggle weighs on her

An escalation in the energy conflict between Russia and Europe after three pipelines exploded in suspected sabotage has sent natural gas prices up in Europe, further straining sentiment. Oil prices rose. The price of Brent crude rose 2.63 percent to 86.09 at the end of trading.

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The head of the Norwegian Parliament’s Foreign Affairs and Defense Committee, In Eriksen Soered, expressed concern about the situation.