NEW YORK (dpa-AFX) – The US stock markets started the week with clear losses on Monday due to new concerns about interest rates. Against the background of quite strong economic data, the leading index Dow Jones Industrial (Dow Jones 30 Industrial) fell by 1.40 percent to 33,947.10 points. The market-wide S&P 500 fell 1.79 percent to 3,998.84 points, while the tech-heavy NASDAQ 100 fell 1.73 percent to 11,786.80 points.
After the Dow had run well to a high since April, concerns grew again at the beginning of the week that the US Federal Reserve might have more scope for further interest rate hikes than previously hoped. As a result, the index fell further from the interim high. A surprisingly good ISM service sector purchasing managers’ index contributed to this. In times of high inflation, good economic data are seen as a sign that the Fed can tighten interest rates even further without endangering the economy too much./tih/mis