US lower at close as economic concerns bite

Friday, 16. September 2022 22:00

Major stock markets in the United States traded lower at the close on Friday, as investors continued to worry about the global economy possibly entering into a recession after FedEx’s gloomy outlook. Next week, all eyes will be on Federal Reserve’s highly anticipated decision regarding interest rates.

On the data front, the University of Michigan revealed that the country’s consumer confidence slightly improved in September on a monthly basis.

The Dow Jones dipped 0.45% or 139 points at the closing bell, with Boeing dropping 3.67%. At the same time, the Nasdaq 100 retreated 0.55%, as DocuSign nosedived 6.14%. At the close, the S&P 500 tumbled 0.72%, with FedEx dragging the index down by 21.40%. The euro traded 0.16% higher against the dollar at 3:59 pm ET, selling for 1.00140.

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