December 8, 2021

Hardwood Paroxysm

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U.S. stock market slump as focus on Federal Reserve decisions

(Reuters) – As the Activision blizzard plummeted into negative forecasts and leadership changes, U.S. stocks fell with investors’ eyes on the Federal Reserve’s expected withdrawal of the epidemic.

Nearly half of the 11 major S&P sectors are in decline, energy <.SPNY> And the industrial sectors are recording the biggest losses. Consumer-preferred stocks have the best performance. The bank sub-index is declining.

The US Federal Reserve is likely to announce a reduction in its $ 120 billion asset purchase plan during the announcement of the 19-hour monetary policy position in Italy.

Capri Holdings advanced 13.6% after Michael Kors’ parent company raised its profit forecast for the year beyond Wall Street estimates. Forecasts also raise TAPESTRY INC’s holdings by 5.4%.

Thanks to an increase in monthly mobile subscribers, T-MOBILE broke US third-quarter ratings and gained 6.1%.

LYFT INC rose more than 8.0% in the third quarter after Wright-Hailing reported adjusted profit.

At 4.45 pm, the Dow Jones Industrial Average was down 87.15 points, or 0.24%, at 35,965.32. The S&P 500 was down 6.03 points, or 0.13%, at 4,624.69 points, while the Nasdaq Composite was up 16.22 points, or 0.11%, at 15,666.12 points.

Meanwhile, some macro data showed that private sector hiring maintained a steady pace in October, while the U.S. service sector performance index peaked at a record high in October, which may have been due to a decline in Govt-19 epidemics. .

After the video game company delayed the release of two highly anticipated titles, the action blizzard that stabilized the S&P 500 and Nasdaq fell 15.3%, while Jen Oneal decided to step down as head of the company he co-founded.

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DEERE & Co fell 5.3%, with company employees preparing to continue their three-week strike after voting against a second contract renewal proposal.

(Translated by Michelas Pierce Simoni at the editorial office in Kidansk, and by Francesca Picioneri at the editorial office in Rome)