The Fed could make another rate hike in September.
(Photo: AP)
Frankfort, New York The fear of rising interest rates spoiled the buying mood of investors on the US stock exchanges at the start of the week. The Dow Jones index of standard values was down 1.4 percent on Monday at 33,237 points.
The broader S&P 500 fell 1.7 percent to 4158 points. The Nasdaq technology exchange index lost two percent to 12,454 points. “The market is now going through a period of digestion, prompted by weaker-than-expected economic data and concerns over what central bankers will say at their forthcoming Jackson Hole meeting,” said Sam Stovall, chief strategist at analyst firm CFRA Research. “The great uncertainty is how big the interest rate hike will be at the September meeting of the US Federal Reserve.”
The shares of the cinema operator AMC, which lost a good third of their value, came under pressure. Rival Cineworld, the world’s second largest cinema group, announced that it may have to seek bankruptcy protection in the United States.
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