(CercleFinance.com) – The main American stock indices fell sharply this Tuesday: the Dow Jones fell 1.29% to 33,002 points, the S&P500 fell 1.37% to just over 4,229 points, while the Nasdaq Composite fell 1.87% to 13,059 points.
‘Equity markets remain risk averse, as long as central bank officials continue to be ‘hawkish’,’ warned Kiplink Finance, which pointed to comments to this effect from Governor Michelle Bowman.
The latter ‘said it was prepared to vote in favor of a further increase in rates if economic data showed too slow or insufficient progress in the fight against inflation’, he underlined.
More broadly, Kiplink noted that most US central bank officials ‘are banking on at least one additional rate hike this year, followed by a long period of restrictive rates’.
In stock news, Eli Lilly fell 2.4% after a definitive agreement to acquire Point Biopharma, a company with a portfolio of clinical and preclinical radioligand therapies in development for the treatment of cancer .
Constellation Brands finished almost flat (-0.1%), helped by comments from Wedbush who added the title of the alcoholic drinks group to its ‘best ideas list’, with an ‘outperform’ opinion and a price target increased from 275 to 300 dollars.
Macy’s fell 1.1% as it announced an accelerated expansion of its small-format store strategy, which could triple their total number by fall 2025 ‘in order to generate growth sustainable and profitable sales’.
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