Inflation Gives Wall Street Its Worst Week Of The Year

© Reuters A trader on the New York Stock Exchange (NYSE).

/Photo taken on December 14, 2022/REUTERS/Andrew Kelly DJI -1 02% Add to/Remove from portfolio Add to Watchlist Add position Position successfully added to: Please name your securities portfolio Type: Buy Sell Date : Quantity: Price Point value: Leverage: 1:1 1:10 1:25 1:50 1:100 1:200 1:400 1:500 1:1000 Commission: Create new Watchlist Create Create new securities portfolio Add Create + Add another position Close BA -4.

80% Add to/Remove from portfolio Add to Watchlist Add position Position successfully added to: Please give a name to your securities portfolio Type: Buy Sell Date: Quantity: Price Value of the point: Leverage: 1:1 1:10 1:25 1:50 1:100 1:200 1:400 1:500 1:1000 Commission: persistent inflation in the United States causing investors to fear that the Federal Reserve will tighten even more than expected in terms of interest rate hikes The Dow Jones index fell 1.

02%, Or 336 99 Points, To 32,816

92 Points The Broader S&p-500 Fell 1

04% to 3,970 42 points, according to preliminary data.

The Nasdaq Composite fell for its part by 195 46 points (-1.

69%) To 11,394 94 Points

Over the week, the Dow lost 3 0%, the S&P-500 2.

7% And The Nasdaq 3 3%

In percentages, this is the largest weekly drop since September for the Dow, which had also not experienced four consecutive weeks in the red since April-May 2022, while the S&P-500 and the Nasdaq are experiencing their worst week since December January statistics released by the Commerce Department on Friday showed a stronger-than-expected rebound in consumer spending, the main driver of activity in the United States, amid rising wages, while inflation accelerated again, with the PCE consumer price index posting its strongest rise since last June at +0.

6% These data confirm a trend already drawn by several other macroeconomic indicators on activity and inflation in the United States, which could encourage the Fed to extend the tightening of its monetary policy beyond what investors envisaged.

This outlook hurt digital giants in particular, whose valuations are very sensitive to changes in interest rates.

Alphabet (NASDAQ: GOOGL), Amazon (NASDAQ: AMZN), Apple (NASDAQ: AAPL) and even Microsoft (NASDAQ: MSFT) all lost around 2% Adobe fell 7.

63% in response to reports that the US Department of Justice is preparing to block its plan to buy Figma Boeing (NYSE: BA) for its part fell 4.

8% after the suspension of deliveries of the 787 Dreamliner for additional analyzes on an element of the fuselage of the device Beyond Meat (NASDAQ:BYND) on the other hand jumped just over 10% as the specialist in meat substitutes began to reap the benefits of its cost control policy.

* Reminder of the session in Europe: [ EUFR] * TO FOLLOW MONDAY: (Written Johann M Cherian and Sruthi Shankar in Bangalore and David French in New York, with Sinead Carew,.