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Most of the US stock indices succeeded in erasing the losses that they incurred during today’s session, but they suffered from incurring weekly losses, and the Dow Jones suffered an eighth consecutive weekly loss, and therefore, it is the longest continuous series of losses since 1932.
This comes in light of concerns about the global economic stagnation as a result of the accelerated monetary tightening policies by central banks to control inflation.
The Chinese Central Bank announced today, in a positive step for the markets, to reduce the interest rate on mortgage loans at a record pace in order to support the economy.
On the other hand, the US Senate announced approval of a $40 billion aid package for Ukraine, and President Joe Biden will sign this package later.
At the conclusion of the session, the Dow Jones Industrial Average rose by less than 0.1% to 31,262 points, and recorded weekly losses of 2.9%, and the broader “S&P 500” settled at 3901 points, and recorded a weekly loss of 3%, while it declined. Nasdaq” rose 0.3% to 11,354 points, to record losses this week by 3.8%.