Fear of inflation on Wall Street – Economy News
Wall Street’s three main indexes opened lower after the rise in oil prices brought back inflation concerns and strengthened the Fed’s forecasts for another rate hike at its next meeting.
The Dow Jones fell 28.37 points, or 0.09 percent, to 33,245.78 at the open. The S&P 500 opened at 4,102.20, down 7.11 points, or 0.17 percent, while the Nasdaq fell 75.81 points, or 0.62%, to 12,146.09 at the open.
China urges Japan not to support US chip export restrictions
On Friday, the S&P 500 gained 1.44 percent, the Dow Jones 1.26% and the Nasdaq 1.74 percent.
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The opening of Wall Street’s three major indexes saw a decline due to concerns over rising oil prices and inflation, which strengthened the likelihood of another rate hike at the Federal Reserve’s next meeting. The Dow Jones opened at a decrease of 0.09%, the S&P 500 opened down 0.17%, and the Nasdaq opened down 0.62%. On Friday, all three indexes saw gains: the S&P 500 rose 1.44%, the Dow Jones 1.26%, and the Nasdaq 1.74%. Additionally, China has urged Japan not to support US restrictions on chip exports.
