Chipmakers weigh on US markets, Dow closes 600 pts lower

Friday, 07. October 2022 22:00

Stock exchanges in New York closed this week's last trading session firmly in the negative territory as expectations that the Federal Reserve's restrictive monetary policy could remain in place until 2024 continued to affect investor sentiment. At the same time, semiconductor companies were among the worst performers on all major indexes after AMD said it would likely miss its third-quarter earnings outlook.

The Dow Jones Industrial Average index was down 2.11%, or 630 points, at the close with Intel falling the most, 5.37%. The Nasdaq 100 contracted by 3.88%. The S&P 500 closed 2.80% lower. Both indexes were pulled down by AMD's 13.87% plunge.

The euro fell by 0.56% compared to the dollar to change hands for 0.97381 at 3:59 pm ET.

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