new York Investors are shying away from larger exposures to Wall Street for fear of a setback for the global economy. The US standard value index Dow Jones rose by 0.3 percent to 31,282 points on Tuesday. The broad-based S&P 500 and the tech-heavy Nasdaq also held up slightly after slipping as much as 2.3 percent at the start of the week.
“When there’s a lot of data coming out, like inflation data and company balance sheets, it’s not uncommon for investors to be risk-averse,” said Art Hogan, chief investment strategist at financial services firm B. Riley. One ray of hope, however, is that earnings expectations for the second half of the year have remained stable. “That allays some concerns that the economy is slipping into recession.”
However, the resurgence of the coronavirus pandemic in China caused stockbrokers a headache. In the spring, restrictions on public life there had affected the global economy.
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