Home Business US stocks tumble on rate hike concerns

US stocks tumble on rate hike concerns

by Dubai Forum
0 comment

NEW YORK, 24th September, 2022 (WAM) — Wall Street’s main indexes all tumbled to close well down on Friday, amid fears the U.S. Federal Reserve’s hawkish rate policy will help tip the American economy into recession.

The Dow narrowly avoided ending more than 20% lower than its Jan. 4 record all-time closing peak of 36,799.64 points, meaning the blue-chip index did not attain a bear market label, according to a widely used definition, Reuters reported.

The S&P 500 and the Nasdaq are already in a bear market.

WAM/Hatem Mohamed

You may also like

Leave a Comment

About Us

Dubai Forum your daily news roundup covering news from Dubai, the United Arab Emirates and the Middle East region in general.

We share news about #people, #travel, #fashion, #startups and #Dubai #communities #DubaiForum

Newsletter