US stock markets close with heavy losses – Micro Focus stocks up 92 percent

Frankfort, New York The prospect of a prolonged period of rising interest rates in the US sent equity and bond markets plummeting on Friday. Soaring energy prices, with gas prices at record highs, also gave investors a headache. The Dow Jones index of standard values ​​closed three percent lower at 32,283 points. The tech-heavy Nasdaq fell 3.9 percent to 12,141 points. The broad S&P 500 lost 3.4 percent to 4057 points.

US Federal Reserve Chairman Jerome Powell put investors in the mood for a tough fight against inflation and dismissed speculation that interest rates would be slowed. Restoring price stability will require tightening monetary policy for “some time,” the Fed chief said at the Jackson Hole, Wyoming, central bank symposium. To do this, the tools would have to be used “powerfully”.