The stock markets in New York have had a weak half year.
(Photo: AP)
new York The US stock exchanges did not find a uniform direction after the long weekend. US standard value index Dow Jones closed 0.4 percent lower on Tuesday at 30,967 points. The tech-heavy Nasdaq advanced 1.8 percent to 11,322 points. The broad S&P 500 gained 0.2 percent to 3831 points. In early trading, the economic pessimists had initially taken back the helm on Wall Street. Recession concerns dominated the market for long stretches.
“Recession concerns are dominating the market,” said Sam Stovall, chief investment strategist at research house CFRA. “The key question now is how much disappointing the second quarter numbers and outlook will be given the slowing economy.”
These fears were also reflected in commodity prices. US crude oil WTI fell nine percent to $98.63 a barrel (159 liters). Against this backdrop, shares in oil companies such as Exxon and Chevron slipped as much as 3.1 percent.
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