S&P 500, Nasdaq eye weekly loss as rate-hike worries hit growth stocks - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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The S&P 500 and the Nasdaq on Friday were set for their first weekly loss after four weeks of gains as worries over interest rate hikes sapped risk appetite and dragged the megacap growth and technology stocks sharply lower.

The blue-chip Dow was set to post slim weekly gains, with stocks struggling to advance this week as initial hope that inflation had peaked gave way to doubts following the Federal Reserve’s minutes from July meeting.

High-growth and technology stocks such as Amazon.com Inc and Alphabet Inc fell over 2% as US Treasury bond yields rose, mimicking European bonds as Germany posted a record-high increase in monthly producer prices.Banks fell 2.3% and were set to end the week lower, potentially snapping their six-week winning streak.

Meanwhile, Richmond Federal Reserve President Thomas Barkin said on Friday that the Fed’s efforts to control inflation could lead to a recession, but it needn’t be “calamitous”. Focus next week will be on Fed Chair Jerome Powell’s speech on the economic outlook at the annual global central bankers’ conference in Jackson Hole, Wyoming.

 

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S&P 500, Nasdaq eye weekly loss as rate-hike worries hit growth stocks - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The S&P 500 and the Nasdaq on Friday were set for their first weekly loss after four weeks of gains as worries over interest rate hikes sapped risk appetite and dragged the megacap growth and technology stocks sharply lower. I highly recommend Sarah_Elliott5 as the number 1 trader. With her I am profiting from my investment weekly. I highly recommend Sarah_Elliott5 I have always hated Bitcoin and thought it was a scam until a friend referred me to Allison_Grillo, I made my first withdrawal of R100,000 in 2 weeks thanks to Allison_Grillo.
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