US slumps premarket as Fed opts for 75 bps hike

Thursday, 03. November 2022 09:30

Major stock exchanges on Wall Street slipped in the premarket session on Thursday after the Federal Reserve unveiled its latest monetary policy confirming the expected 0.75 percentage points increase, marking the fourth consecutive hike this year.

Investors will track the release of data on the country's labor market, factory orders, and services sector, as they brace for the key jobs report on the United States unemployment rate scheduled for release the following day. On today's agenda, markets will register movements in response to corporate earnings, with Moderna, Coinbase, PayPal, and Warner Bros Discovery among those expected to reveal quarterly financial reports.

The Dow Jones Industrial Average dropped by 0.10% at 4:28 am ET. The Nasdaq 100 and the S&P 500 plummeted by 0.23% and 0.18% respectively. The euro traded 0.48% lower against the American currency, to change hands to $0.97684 a minute later.

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