{"id":71070,"date":"2022-08-29T22:09:30","date_gmt":"2022-08-29T18:09:30","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=71070"},"modified":"2022-08-29T22:09:59","modified_gmt":"2022-08-29T18:09:59","slug":"wall-street-hits-one-month-lows-on-rate-hike-worries","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/wall-street-hits-one-month-lows-on-rate-hike-worries\/08\/29\/market-updates\/","title":{"rendered":"Wall Street hits one month lows on rate hike worries"},"content":{"rendered":"\n<p>US stock indexes hit fresh one-month lows on Monday, adding to a sharp selloff last week as investors worried about the Fed&#8217;s plan to keep raising interest rates in its fight against inflation even if the cost is an economic slowdown.<br><br>At 11:43 a.m. ET, the Dow Jones Industrial Average (.DJI) was down 191.47 points, or 0.59%, at 32,091.93, the S&amp;P 500 (.SPX) was down 29.32 points, or 0.72%, at 4,028.34, and the Nasdaq Composite (.IXIC) was down 145.16 points, or 1.20%, at 11,996.56. The indexes were at their lowest levels since July 28.<br><br>Fed Chair Jerome Powell said on Friday the US economy would need tight monetary policy &#8220;for some time&#8221; before inflation is under control.<br><br>Money market traders are pricing in a 70.5% chance of a third straight 75-basis-point interest rate hike next month and expect the Fed funds rate to end the year near 3.7%.<br><br>Among the biggest drags on Monday, heavyweight technology and growth stocks such as Apple Inc (AAPL.O), Microsoft Corp (MSFT.O) and Tesla Inc (TSLA.O) fell between 1.4% and 2.4% due to a rise in Treasury yields.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>US stock indexes hit fresh one-month lows on Monday, adding to a sharp selloff last week as investors worried about the Fed&#8217;s plan to keep raising interest rates in its fight against inflation even if the cost is an economic slowdown.At 11:43 a.m. ET, the Dow Jones Industrial Average (.DJI) was down 191.47 points, or &hellip;<\/p>\n","protected":false},"author":13,"featured_media":61273,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[39,36],"tags":[6885,8143,6862],"class_list":["post-71070","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-global-stock-markets","category-market-updates","tag-fed","tag-interest-rate-hikes","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/71070","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=71070"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/71070\/revisions"}],"predecessor-version":[{"id":71076,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/71070\/revisions\/71076"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/61273"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=71070"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=71070"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=71070"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}