The performance of the US stock indices varied, at the end of the trading session Friday, June 17, 2022, the end of the week’s trading, and the performance of the US market indices witnessed a state of noticeable fluctuations, with Federal Reserve Chairman “Jerome Powell” confirming the bank’s commitment to slow inflation to the target level of 2%.
American indices in the session Friday, June 17, 2022
The Dow Jones Industrial Average declined by 0.1%, or 38 points, to record 29,888 points, bringing its weekly losses to 4.8%.
While the broader “Standard & Poor’s 500” index rose 0.2%, or 8 points, to record 3,674 points, but recorded weekly losses of 5.8%.
The “Nasdaq” index rose by 1.4%, or 152 points, to record the level of 10,798 points.
The US Federal Reserve raises interest rates
The Fed raised the interest rate by 75 basis points this week, the largest increase since 1994, indicating the possibility of repeating the same pace of increase at the next July meeting.
Fears of a recession in the US economy increased due to the strong tightening of monetary policy, with the Federal Reserve lowering its growth forecasts and raising unemployment estimates for the current and next two years.
Read also.. the rise of US stocks at the close of trading on Wednesday, June 15, 2022.. after raising the US interest rate
European and Japanese stocks in the session Friday, June 17, 2022
With regard to European markets, during the session on Friday, June 17, 2022, the European “Stoxx 600” index rose by 0.09%, or the equivalent of 0.4 points, at the level of 403 points, while the French “CAC” index fell by 0.06%, or the equivalent of 3 points, to the level of 5882 a point.
The German “DAX” index rose by 0.7% by about 88 points at 13,126 points, and the British “FTSE 100” index decreased by 0.4% by about 28 points, recording the level of 7016 points.
In Japan, the “Nikkei” index fell by 1.8%, recording the level of 25,963 points, and the broader “TOPIX” index fell by 1.7%, at the level of 1835 points.