India's First International News Journal

India's First International News Journal

Thursday, June, 30, 2022

Top Stories

Crash in world markets: Most indices fell sharply

The Dow Jones Industrial Average was down 740 points, or about 2.3 percent, the S&P 500 was down 3.1 percent and the Nasdaq Composite was down 3.9 percent.

-Advertisement-
-Advertisement-

Following the opening of the New York Stock Exchange on Monday, most stock indexes fell sharply, pushing the S&P 500 to its lowest level this year. Experts say fears of a recession grew ahead of a key meeting of the Federal Reserve this week.

The Dow Jones Industrial Average fell 740 points or about 2.3 percent, the S&P 500 fell 3.1 percent and the Nasdaq Composite fell 3.9 percent.

The move came after investors continued to digest the latest inflation report on Friday and prepared for the Fed to raise interest rates later in the week.

“It tells me that there is a buyer strike and that you have people who are obviously selling, but no one is going to buy,” said Keith Lerner, director of investment at Truist Financial.

-Advertisement-

The S&P 500 on Monday reached a new low this year and the lowest level since March 2021. The benchmark is more than 20 percent over the record.

These moves could indicate that many investors are making a profit or repositioning their portfolios and may signal that markets are in the “capitulation phase”, said Jeff Kilburg (Jeff), the chief investment officer of Sanctuary Wealth, writes CNBC.

-Advertisement-

The stories shaping the world

Author

News Room
News Room
The Eastern Herald’s Editorial Board is responsible for the stories published under this byline. That includes editorials, news stories, letters to the editor, and multimedia features on easternherald.com.

Public Reaction

Trending

You may consider

-Advertisement-