The Dow fell almost 600 points, worried about the bond yield – strengthening the dollar – the Fed accelerated. |RYT9

The Dow Jones Index continues to decline. Most recently, it fell nearly 600 points after the US revealed higher-than-expected non-farm payrolls numbers. This will be a factor that supports the United States Federal Reserve (Fed) to accelerate interest rates.

At 11:50 pm GMT, the Dow Jones Industrial Average was at 29,338.80, down 588.14, or 1.97%, while the S&P 500 was down 2.63% and the Nasdaq was down 3.61%.

Energy stocks rose against the market. In accordance with the increase in oil prices in the world market

Wall Street is also under pressure from the appreciation of the dollar. and the rebound in US Treasury yields following the release of the employment report.

The strength of the dollar has raised investor fears that it will affect the bottom line of listed companies with foreign earnings. The rise in 10-year US Treasury bonds, which are US government bonds used as a reference for global bond prices. This includes the US mortgage interest rate. makes consumers have less money to spend while the cost of paying off mortgage loans increases AND companies will face higher costs of paying off debts. causing these companies to reduce their investment and reduce dividend payments to investors

The US Labor Department said non-farm payrolls increased by 263,000 in September. It was above analysts’ estimates of 250,000, but below August’s 315,000.

The unemployment rate fell to 3.5% from 3.7 per cent in August.

Investors see that Higher than expected employment figures And the unemployment rate fell to 3.5% in September, indicating strength in the US labor market. And it will be a factor that supports the Fed to accelerate further increases in interest rates.

Investors added that the Fed will raise interest rates by 0.75% at its monetary policy meeting in November. After revealing the number of non-farm payrolls today

If the Fed raises interest rates by 0.75% in November, it will raise interest rates by 0.75% for the fourth time after raising 0.75% in June, July and September.

Meanwhile, investors are keeping an eye on the minutes of the Fed’s September meeting on October 12 and the Consumer Price Index (CPI) on October 13 for any indication of the Fed’s interest rate direction.

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