by Sinéad Carew
NEW YORK (Reuters) – The New York Stock Exchange ended in disarray on Monday, with investors fearing an upcoming Federal Reserve rate hike.
The Dow Jones index fell -0.45%, or 162.79 points, to 36,068.87 points.
The larger S & P-500 fell 6.74 points, or -0.14%, to 4,670.29 points.
The Nasdaq Composite, for its part, advanced 6.93 points (0.05%) to 14,942.83 points.
In addition to monitoring the rise in bond yields, investors are awaiting the release on Wednesday of consumer price figures in the United States, which should confirm the persistence of inflationary pressures, said Peter Tuz, chase Investment Counsel, in Charlottesville in Virginia.
“The evolution of inflation and the way in which the Fed will react worries investors,” he said.
The publication of the monthly US employment report on Friday showed that job creation in December came out below expectations while at the same time the rise in the average salary exceeded the consensus.
These data are fueling expectations of an interest rate hike by the Federal Reserve as early as March, the probability being more than 70% in the markets. Goldman Sachs now expects four US rate hikes this year, one more than before.
The Nasdaq cut losses late in the day, with some investors looking to take advantage of the steep decline earlier today, said Rick Meckler, partner at Cherry Lane Investments.
At values, Tesla rose at the end of the session, after having fallen at the opening after the announcement by the automaker of an increase in its prices for the option of assistance to autonomous driving.
Nike retreated after HSBC downgraded its “hold” to “buy” value recommendation, with a price target lowered from $ 184 to $ 182.
(French version Camille Raynaud)