Wall Street extends losses on rate talks, China unrest

Monday, 28. November 2022 19:15

Major stock markets on Wall Street recorded significant losses about half into Monday's trading session as investors digested the latest remarks from Fed senior officials John Williams and James Bullard. Commenting on the Federal Reserve's monetary policy, Bullard argued the Fed would have to continue increasing its key rates throughout next year to ease inflation pressures.

Meanwhile, negative sentiment was also pushed by protests across China that took place over the past weekend, prompting the production facilities of American tech companies to reportedly suffer slowdowns and hitting shares across the market. Tech giant Apple plunged over 2%, losing gains made since November 11.

The Dow Jones plunged by 1.05% or 360 points at 1:11 pm ET, with Disney leading the losses after news hiring freeze would remain in place. The Nasdaq 100 declined 0.92% or 108 points, with Biogen's shares decreasing over 3.5% over a trial death accident. The S&P 500 fell by 1.10%. The euro lost 0.41% against the dollar to sell for 1.03680.

Related Links: Biogen Inc.Walt Disney CompanyApple Inc.
Baha Breaking News (BBN) / ND