News Formal

Business Maverick: Energy Stocks Weigh on S&P 500 Amid Demand Fears: Markets Wrap

  • 📰 dailymaverick
  • ⏱ Reading Time:
  • 13 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 8%
  • Publisher: 84%

United States News News

United States United States Latest News,United States United States Headlines

US stocks dropped amid concerns about the growth outlook in the US as the Federal Reserve vows to be persistent to fight inflation. Investors are also seeking shelter in the dollar as worries mount that China may tighten Covid curbs after a string of ...

on concern of a weakening demand outlook from China and on news that Saudi Arabia is considering an Opec+ increase of up to 500,000 barrels a day.

The offshore yuan weakening against the dollar on Monday is the “largest negative macro factor price driver for the S&P 500,” said Charlie McElligott, managing director for cross-asset strategy at Nomura Securities International.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business Maverick: Stocks drop amid China Covid worries, Fed rate: markets wrapStocks and emerging-market currencies decline in Asia amid concern that China may tighten Covid curbs after reported deaths, and as investors weigh the outlook for US rate hikes.
Source: dailymaverick - 🏆 3. / 84 Read more »