Wall Street falls on American consumer confidence data

Wall Street Widespread sales fell on Tuesday Information From Consumer confidence From the United States (EU) Encouraged investors and raised fears that the Federal Reserve’s (Fed) aggressive fight against inflation could push the economy into recession.

Based on initial data, the S&P 500 .SPX lost 78.02 points, or 2.00%, to 3,822.09, while the Nasdaq .IXIC fell 343.06 points, or 2.98%, to 11,181. Was fifty. The Dow Jones Industrial Average .DJI was down 490.78 points, or 1.56%, at 30,947.48.

Three main stock indices Wall Street They were covered with strong waterfalls, and the Nasdaq fell very high. Shares of Apple, Microsoft and Amazon were the biggest losers.

With two more days left in the month and the second quarter, the S&P 500 index has been on track for its biggest first-half fall since 1970.

All three indices are close to closing two consecutive quarterly declines for the first time since 2015.

Wall Street: Consumer distrust raises fears of recession

In the morning, the main codes Wall Street Collapsed, into a sharp fall

American consumer confidence
Highlighted the growth risks posed by accelerating inflation.

At the end of the day Wall StreetTim Grisky, senior portfolio strategist at Ingols & Snyder in New York, says sales of this aggression are going to decline at some point, but it doesn’t seem to be there any time soon.

The data released this morning, Tuesday, June 28, showed the index number Consumer confidence Of

The Convention Board has plummeted to its lowest level since February 2021, and has had the most pessimistic expectations for almost a decade.

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“(Investors) are sitting there wondering if there has been a collapse Consumer confidence It’s going to be a recession, and we’re not going to solve that problem, ”said Tom Heinlin, national investment strategist at US Bank Wealth Management.

“We have not seen the second quarter earnings reports, so we do not know if companies are seeing a recession,” he added.

Also, it was reported

Commodity trade deficit in the United States
It was reduced in May.
With Reuters information.


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