News article in McDonald’s website confirms that after more than 30 years of operations in the country, McDonald’s Corporation...

Economy

McDonald’s To Exit from Russia after 30 Years of Service in the Country

The dollar slipped against other major currencies for a third straight day on Tuesday, tempering a long rally as investors cashed out and trimmed bets on U.S...

Stock Markets

Dollar Slipped against other Major Currencies as Focus turns to Growth

Asian shares rise on Tuesday, boosted by technology majors, as hopes expectation grow for an easing of China's regulatory crackdown on...

Stock Markets

Asian Shares Rise on High Expectation of Easing China Tech Crackdown

On Friday, Elon Musk revealed that his $44 billion takeover deal for Twitter Inc. has been put “temporarily on hold”, triggering a share plunge...

Stock Markets

Musk’s $44 Billion Twitter Acquisition Deal ‘on Hold’ Causing Shares to Plunge

His Highness Sheikh Khalifa bin Zayed Al Nahyan, the President of the United Arab Emirates and Ruler of Abu Dhabi, has passed away on Friday, May 13, aged 73...

World

RIP: UAE’s Sheikh Khalifa Bin Zayed Al Nahyan Passes Away

Stock Markets

8 Sept 2021

Dow Report; Lowest 500 Point Drop since October

Dow Report; Lowest 500 Point Drop since October

The Index Today

Stocks recorded their biggest losses on Friday after months of growth after it was announced the central bank may increase interest rates early next year.
Investors are trying to determine when the bank will be raising interest rates as they remain at their lowest currently. James Bullard, the Head of the St. Louis branch of the fed told reporters that inflation rates are higher than expected and that interest rates increase could happen as soon as next year as opposed to the previous prediction of rate increases in 2023.
The current rise in inflation is called out to be temporary whereas Wall Street suspects that it will last longer than expected.
The Dow Jones industrial average fell 533.37 points to 33,290.08. The blue-chip average reflected its worse low since October, a drop of 3.5%. On the other hand, the benchmark S&P 500 index dropped 1.3% followed by banks, utilities and energy companies. This was its first week of loss in the last four weeks. For the week, S&P 500 lost 1.9%, the lowest since February. The index remains at 2.1% lower, Nasdaq composite fell 0.9%, lowest for the week.
The central bank has raised inflation expectations to 3.4%, a percentage higher than its March projections. With feds aid for the economy easing up, markets are expected to shift after periods of zero interest rates and emergency programs.
Increasing vaccinations also play a role in normalizing the economy which would increase prices for raw materials as well as consumer prices. Banks are suffering from blows due to shrinking interest rates with the financial stocks in S&P 500 down 2.5%.
Despite Joe Biden signing a bill for Juneteenth, U.S stock markets are expected to remain open on Friday. The last day of the week will experience the quarterly expiration of U.S options and futures contracts that may increase trading volume as well as market volatility.

©Photo: Bebeto Matthews, AP