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US stocks record weekly losses. The Dow Jones lost 771 points
03 March 2018 01:18 p
Mubasher: US stocks rose on Friday, but Wall Street suffered a mass loss this week to lose the Dow Jones industrial average about 771 points.
The US stock market has been under heavy pressure from growing concerns about protectionist tariffs the United States plans to apply to steel and aluminum imports, as well as US President Donald Trump's talk of a trade war as long as it is in the interest of his country.
The cartoons raised widespread criticism of the world's largest economy, with the World Trade Organization (WTO) expressing concern about US decisions, while the EU threatened reprisals.
McDonald's came in the worst performer, falling 5.1% at the end of the session or losing about $ 8 in value, its biggest drop since 2008.
On the economic front, the US consumer confidence index rose for the second time in nearly 14 years.
On the basis of the week, US markets were negatively affected by Federal Reserve Chairman Jerome Powell's remarks to Congress on the central bank's view of raising interest rates this year by four increases .
This comes in addition to Powell's comments on the lack of "decisive" signs of wage inflation growth at an accelerated pace during his second Senate testimony.
The Dow Jones Industrial Average was down 0.3% at 24538.06 and lost more than 3% in a week or 771 points.
While the Standard & Poor's rose by 0.5% to 2,691.2 points, but recorded a weekly loss of 2%.
The Nasdaq rose 1.1% to 7,257.8 points, while it lost 1.1% this week.
Related Topics World Indices World
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03 March 2018 01:18 pMubasher: US stocks rose on Friday, but Wall Street suffered a mass loss this week to lose the Dow Jones industrial average about 771 points.
The US stock market has been under heavy pressure from growing concerns about protectionist tariffs the United States plans to apply to steel and aluminum imports, as well as US President Donald Trump's talk of a trade war as long as it is in the interest of his country.
The cartoons raised widespread criticism of the world's largest economy, with the World Trade Organization (WTO) expressing concern about US decisions, while the EU threatened reprisals.
McDonald's came in the worst performer, falling 5.1% at the end of the session or losing about $ 8 in value, its biggest drop since 2008.
On the economic front, the US consumer confidence index rose for the second time in nearly 14 years.
On the basis of the week, US markets were negatively affected by Federal Reserve Chairman Jerome Powell's remarks to Congress on the central bank's view of raising interest rates this year by four increases .
This comes in addition to Powell's comments on the lack of "decisive" signs of wage inflation growth at an accelerated pace during his second Senate testimony.
The Dow Jones Industrial Average was down 0.3% at 24538.06 and lost more than 3% in a week or 771 points.
While the Standard & Poor's rose by 0.5% to 2,691.2 points, but recorded a weekly loss of 2%.
The Nasdaq rose 1.1% to 7,257.8 points, while it lost 1.1% this week.
Related Topics World Indices World
https://www.mubasher.info/news/3238690/%D8%A7%D9%84%D8%A3%D8%B3%D9%87%D9%85-%D8%A7%D9%84%D8%A3%D9%85%D8%B1%D9%8A%D9%83%D9%8A%D8%A9-%D8%AA%D8%B3%D8%AC%D9%84-%D8%AE%D8%B3%D8%A7%D8%A6%D8%B1-%D8%A3%D8%B3%D8%A8%D9%88%D8%B9%D9%8A%D8%A9-%D9%88-%D8%AF%D8%A7%D9%88%D8%AC%D9%88%D9%86%D8%B2-%D9%8A%D9%81%D9%82%D8%AF-771-%D9%86%D9%82%D8%B7%D8%A9
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