Wall Street closes in the red on fearful Fed return

Wall Street’s main indices ended in the red in the first session of the week, pressured by new fears that the Federal Reserve (Fed) could maintain the pace of interest rate hikes in December after today being known data in the services sector, which beat analysts’ estimates.

Every time the data indicate that the economy is resisting, investors once again fear that the Fed will maintain the toughness of monetary policy and seek refuge in “treasuries”, bringing down stock markets.

The Dow Jones fell 1.4% to 33,947.10 points, while the S&P 500 lost 1.79% to close at 3,998.84 points. According to Bloomberg, 95% of those listed on the broad index ended in the red. The technological Nasdaq Composite retreated 1.93%, to 11,239.94 points.

One of the highlights of the day was Tesla, which fell 6.37% after news that its factory in China would reduce Model Y production by 20%. The company led by Elon Musk denied the information, but did not convince investors.

Source: Jornal de Negócios by www.jornaldenegocios.pt.

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