US stock indices ended yesterday’s trading session with a noticeable decline, with concerns regarding the prospects for monetary policy and economic recession in the United States.
Wall Street investors continued their fears regarding the continued strong interest rate hike by the Federal Reserve, following statements by members of the Central Bank last week suggesting that monetary policy will continue to tighten until inflation slows significantly.
Technology stocks suffered in particular, fears of raising US interest rates, as Amazon’s stock fell by 3.6 percent, and Apple and Microsoft fell by 2.3 and 2.9 percent, respectively.
On the other hand, AMC Entertainment Holdings’ stock fell by 41.9 percent, following its competitor, Cinema World, announced a warning of the possibility of bankruptcy, in addition to the start of trading in additional preferred shares.
The Dow Jones Industrial Average fell 1.9 percent, or 648 points, to 33,058 thousand points, witnessing the largest daily drop since last June.
