[뉴욕증시] Despite falling interest rates, the three indexes weakened at once… Dow 0.94%↓

[뉴욕=뉴스핌] Correspondent Kim Min-jung = Major indexes in the US New York stock market fell at once on the 23rd (local time). The mayor took note of the hearings of Fed Chair Jerome Powell and Finance Minister Janet Yellen. The decline in government bond yields was a factor that brought relief to the market, but the plunging oil prices and news about vaccines suppressed investor sentiment.

On the New York Stock Exchange (NYSE), the Dow Jones 30 Industrial Average closed at 32,423.15, down 308.05 points (0.94%) from the previous day. It was counted. The Nasdaq composite index, centered on technology stocks, fell 149.85 points (1.12%) to 13227.70.

On that day, investors took note of the testimony of Parliamentary Chairman Powell and Secretary Yellen. Powell stressed that prices will rise as the US economy escapes from the new coronavirus pandemic (Corona 19) pandemic, but it will not be overwhelming, and the Fed has the means to control it if necessary.

Chairman Powell also maintained that expectations for an economic improvement have grown, but he also maintained that he had to go a long way in order for the recovery to be completed.

New York stock market trader looking at Chairman Powell.[사진=로이터 뉴스핌] 2021.03.24 [email protected]

The signs of Corona 19’s re-proliferation also made investors uneasy. The state of New Jersey has decided to stop easing the blockade. A large crowd is crowding in Florida during the spring break, raising concerns about the spread of Corona 19.

It was bad news on the stock market that the possibility that old data could have been used in the United States related to AstraZeneca’s clinical trial of a COVID-19 vaccine candidate. AstraZeneca fell 3.52% on the same day.

Falling oil prices also limited overall investor sentiment. On this day, the May of Western Texas Crude Oil (WTI) ended at $57.76, down 6.2% per barrel from the previous day. Accordingly, WTI prices fell by more than 10% from the peak and entered a correction phase.

Economic indicators were sluggish. According to the U.S. Department of Commerce, sales of new homes in the United States in February were 775,000, down 18.2% annually from a month ago. The January figure was revised up to 948,000.

In a separate report, the Ministry of Commerce said that last year’s current account deficit in the US surged 34.8 percent to $647.2 billion. This is the highest since 2008.

“We expect the current account deficit to expand to 3.5% of this year’s average gross domestic product (GDP),” said Oren Clarkin, chief US economist at Oxford Economics. Silver will boost imports strongly and exports will recover more slowly.”

However, UBS advised that investors should continue to trade in reflation based on expectations for economic improvement. “Inflation, stimulus and economic growth will begin to accelerate,” said Solita Maseli, chief investment officer (CIO) of Americas at UBS Asset Management. “Variability should be used to build a strategic position in relation to the selective growth theme.”

Gamestop, which reveals its earnings after the market close, plunged 6.87% on the same day. Caterpillar also showed a 3% weakness.

Technology stocks were mixed by stock. Apple fell 0.69% and Amazon.com rose 0.86%. Netflix rose 2.29%, while Facebook fell 0.99%. Tesla fell 1.17%.

The Chicago Options Exchange (CBOE) Volatility Index (VIX), referred to as the’Wall Street Fear Index’, recorded 20.71, up 9.69% from the previous day.

[email protected]