Wall Street closed in the red on the day investors fled risk
US stock markets ended the session in the red, with investors favoring sovereign debt at a time when investors await a hearing from Federal Reserve Chairman Jerome Powell in the US Congress.
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US stock exchanges ended the session with losses, on a day when investors preferred safer assets, such as sovereign debt. This comes at a time when they are eagerly awaiting testimony from US Federal Reserve (Fed) Chairman Jerome Powell in the next couple of days.
The head of the US central bank will be in the House of Representatives on Wednesday and the next day in the Senate For the semi-annual hearing, as investors expect these hearings to provide clues about the course of monetary policy.
The S&P 500, the region’s main index, fell 0.47% to 4388.71 points, the Dow Jones Industrial Average lost 0.72% to
At its last monetary policy meeting, last week, the Fed chose to keep interest rates unchanged in the range between 5% and 5.25%, but the “point chart” – map Which shows how each central banker estimates changes in interest rates – refers to the fed funds rate standing at 5.6% (the median value) at the end of this year, which indicates that there will be one or more additional increases.
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