NEW YORK (dpa-AFX) – The US stock markets fell further on Monday in the face of increasing interest rate and recession concerns. Market participants fear that the unexpectedly high inflation could prompt the US Federal Reserve (Fed) to take even more significant interest rate hikes.
Once again, the shares of technology companies in particular were penalized: Their selection index NASDAQ 100 reached its lowest level since November 2020 right at the beginning and dropped 2.95 percent to 11,483.83 points a good half hour after the start of trading.
For the market-wide S&P 500, it fell by 2.61 percent to 3798.98 points after its lowest level since March last year. Compared to the record high in January, this means a decline of more than 20 percent, whereby the stock market barometer signals a bear market according to the usual definition.
The leading index Dow Jones Industrial (Dow Jones 30 Industrial) lost 2.01 percent to 30,763.20 points and remained just above its interim low from the previous month – its recovery in the second half of May has fizzled out./gl/he
