The New York Stock Exchange fell on Tuesday morning as Washington announced new economic sanctions against Russia after a positive start to the technology-driven week.
At around 2:15 pm Greenwich Mean Time, the Dow Jones fell 0.03%, the Nasdaq fell 1.18%, and the S & P 500 fell 0.38%.
On Monday, the index started the quarter, thanks to a good session of the American tech giant.
The Dow Jones rose 0.30% to 34,921.88 points. The technology sector flagship Nasdaq Index rose 1.90% to 14,532.55 points, and the broader S & P 500 Index rose 0.81% to 4,582.64 points.
The US has increased pressure on Moscow by banning Russia from paying debt in dollars held in US banks since Tuesday, increasing the risk of Russia’s default.
Washington has taken this step, saying the US Treasury said, “Today is the deadline for Russia to repay another debt.”
Brussels has announced that it wants to ban the purchase of Russian coal, which accounts for 45% of imports from the European Union.
In Moscow, Vladimir Putin blamed pressure on Europe’s Gazprom and threatened retaliation.
After Germany announced that it would manage the temporary work of its German subsidiary in Gas, he said, “The situation in the energy sector is due to crude measures, especially administrative pressure on our Gazprom in some European countries. It’s getting worse. ” Giant.
“There is a bit of hesitation in the market this morning (Tuesday),” said Patrick O’Hare of Briefing.com.
“Market participants are addressing the idea that the rise will be more difficult to recover given the current environment, including rising interest rates, prolonged inflationary pressures and Russia’s continued onslaught on Ukraine. “I will.” He summarized.
For Schwab analysts as well, the market is closely watching “the war in Eastern Europe as the United States and Europe are considering new sanctions against Russia.”
In the bond market, yields on 10-year government bonds rose again (2.50%).
Investors look at the minutes of the last financial meeting of the U.S. Central Bank (Federal Reserve Board, Federal Reserve Board) on Wednesday to see the Federal Reserve Board’s upcoming rate hikes and the size of the central bank. Evaluate the state of mind of members of the Financial Policy Board (FOMC). Balance sheet reduction measures.
One member of the committee, Lael Brainard, warned on Tuesday that the Fed is ready to act more strongly on interest rates to slow inflation.
In the stock market, energy-driven half of the S & P sector remained green (+ 1.12%), but oil prices began to rise again with the announcement of new sanctions affecting Russia’s energy sector. ..
The engineering department was confused after being driven the day before by the reception given to Twitter’s action when Elon Musk announced the acquisition (-1.39% for information technology). Major participation in social networks.
Twitter continued to surge (+ 3.86%) after rising 27.12% to $ 49.97 on Monday following the announcement of Elon Musk.
As of Tuesday, social network management tweeted that Tesla and SpaceX leaders have joined the group’s board of directors.
With a surprising initiative, a wealthy and whimsical entrepreneur quickly became the largest shareholder, buying 9.2% of Twitter’s capital for about $ 2.9 billion. Elon Musk speaks very often on this platform. The platform has more than 80 million subscribers.
After a solid rise the day before (+ 2.93%), Amazon titles had little reaction to Tuesday’s announcement (-0.61%).
The cruise line carnival was celebrated (+ 7.85% to $ 21.28), and last week the company showed that it had the highest booking week ever.
Starbucks continued to lose more than 3% as it did the day before. Investors appreciated the decision by CEO Howard Schultz, who returned to the top of the chain, to suspend the share buyback program, saying he wanted to invest “more” in the group.