NEW YORK (dpa-AFX) – Concerns about inflation caught up with the New York stock exchanges on Wednesday after two days of recovery. In addition to the ongoing attacks in the Iran war and the oil price driven by them, the producer prices announced and statements by the US Federal Reserve in connection with the interest rate decision also became a burden. Investors generally reduced their interest rate cut expectations.
The Dow Jones Industrial extended its losses after the Fed, as expected, left interest rates unchanged. After trading, Wall Street’s leading index fell 1.63 percent lower to 46,225.15 points. The market-wide S&P 500 fell by 1.36 percent to 6,624.70 points. The technology-heavy NASDAQ 100 suffered a loss of 1.4 percent at 24,425.09 points.
The price of a barrel of US WTI oil approached $100 again on Wednesday as Iran threatened retaliation in the United Arab Emirates, Saudi Arabia and Qatar following an attack on its gas facilities. In addition to rising gas and oil prices, concerns about inflation also increased because of producer prices, which rose surprisingly significantly. Federal Reserve Chairman Jerome Powell was then unable to alleviate the concerns./tih/e.g
