Gloomy on Wall Street

» Updated:

» Published:

Gloomy on Wall Street
Photo: Yuki Iwamura/AP/TT

Share this article

The mood was gloomy when the American stock market week began and the leading indexes on the New York Stock Exchange fell.

The broad S&P 500 index fell 1.0 percent, the Dow Jones industrial index dropped 0.9 percent, while the Nasdaq's technology-heavy composite index lost 1.2 percent.

Market interest rates have risen, for example, the yield on the ten-year government bond is higher than 4 percent for the first time since August.

Rising oil prices are also contributing to the uncertainty.

Several of the large technology companies had a tough day, for example, electric car manufacturer Tesla fell 3.7 percent and Google's parent company Alphabet fell 2.4 percent.

On the other hand, chip manufacturer Nvidia performed strongly, with its stock rising 2.3 percent.

Soon, companies will be presenting quarterly reports, for example, major banks such as JP Morgan Chase and Wells Fargo are expected to release their quarterly figures this week.

Tags

Author

TTT
By TTEnglish edition by Sweden Herald, adapted for local and international readers

More news

Government Proposes Increased Export Credit Guarantees for Swedish Companies

Government Proposes Increased Export Credit Guarantees for Swedish Companies

AstraZeneca Halts UK Research Facility Expansion Plans

AstraZeneca Halts UK Research Facility Expansion Plans

Princess Madeleine's Skincare Brand Launch Draws Lukewarm Interest

Princess Madeleine's Skincare Brand Launch Draws Lukewarm Interest

Länsförsäkringar Swish Payment Issue Resolved

Länsförsäkringar Swish Payment Issue Resolved

Blind Box Trend Raises Concerns Over Consumer Behavior and Spending

Blind Box Trend Raises Concerns Over Consumer Behavior and Spending

France's Credit Rating Downgraded by Fitch

France's Credit Rating Downgraded by Fitch

Microsoft Gains Amid Mixed US Market

Microsoft Gains Amid Mixed US Market

FTC Investigates Google and Amazon Over Advertising Practices

FTC Investigates Google and Amazon Over Advertising Practices

US Proposes G7 Tariffs on China and India Over Russian Oil Purchases

US Proposes G7 Tariffs on China and India Over Russian Oil Purchases

Taco Bell Plans Expansion into Sweden with First Stockholm Location

Taco Bell Plans Expansion into Sweden with First Stockholm Location

Russia's Central Bank Makes Smaller Than Expected Interest Rate Cut

Russia's Central Bank Makes Smaller Than Expected Interest Rate Cut

ECB Officials Divided on Future Interest Rate Decisions

ECB Officials Divided on Future Interest Rate Decisions

Klarna CEO Secures Billion-Kronor Loan to Buy Out Co-Owner

Klarna CEO Secures Billion-Kronor Loan to Buy Out Co-Owner

Six Suspects in Consultant Scandal Face Charges After Spain Raid

Six Suspects in Consultant Scandal Face Charges After Spain Raid

Microsoft to Remove Teams from Office Package in EU Agreement

Microsoft to Remove Teams from Office Package in EU Agreement

UK Economy Growth Stagnant in July as GDP Remains Unchanged

UK Economy Growth Stagnant in July as GDP Remains Unchanged

German Inflation Rises to 2.2 Percent in August

German Inflation Rises to 2.2 Percent in August

Global Stock Markets Rise Slightly Ahead of Expected US Rate Cut

Global Stock Markets Rise Slightly Ahead of Expected US Rate Cut

Insurance Guide: What to Know After Västernorrland Floods

Insurance Guide: What to Know After Västernorrland Floods

Asian Stock Markets Rise on Week's Last Trading Day

Asian Stock Markets Rise on Week's Last Trading Day