Saturday , May 8 2021

Wall Street came to the correction zone and European bags were stained in red before the Fed meeting

The world's largest listed companies deepen the reported losses on Friday, caution around the last meeting of the federal committee on open market tomorrow, which will continue on Wednesday.

Although investors consider the interest rate as the fourth increase as a matter of course, the focus is on the downstream end of the cycles.

Asia's most important indicators were closed in a mixed terrain. Japan's Nikkei missed a farewell day with a 0.62% rebound. At the same time Hong Kong's Hang Seng and Shanghai CSI 300 closed losses by 0.03% and 0.15% respectively.

In the old continent, Euro Stoxx 50 – which connects the 50 most important companies in the euro area – said a 0.94 percent decline. French Cac 40 fell by 1.11%, while German Dax dropped 0.86%.

In addition, the European stock market suffered from the heavy losses experienced by the fashion business after a 40 percent collapse in British Asos as they revised down their earnings estimates.

European fashion business lives in black on Monday and falls by as much as 40%

In Wall Stret, uncertainties take the most important indicators. Dow Jones traded 2.11%, while S & P500 and Nasdaq closed losses of 2.08% and 2.27%.

In this way, and for the first time since March 2016, the three main indicators in the New York plaza came to the correction zone, which had accumulated more than 10 percent losses since its last peak.

At regional level, the Santiago Stock Exchange closed the day with losses of 1.18%, which was called by SQM. Non-metallic mining companies' Series B securities declined by 2.51% to $ 28,689.

On the other hand, the dollar weakens in the world before the Federal Reserve meeting. For the time being, the operating index – which measures the exchange rate against six world currencies – retreats from 0.27% to 97.2%.

Despite the weakness of the United States currency, copper loses the field on the London Metal Exchange, which was affected by new doubts about the future of trade war. White House officials have confirmed that the unfair practices of Chinese companies are damaging to North American companies and that they do not comply with the World Trade Organization (WTO) mandates.

Under this scenario, red metallic contracts for March fall from 0.87 percent to $ 2.73 per pound.

At the same time, oil efficiency is growing up to now. In the US, the WTI rises to 0.42 percent and is $ 51.62 per barrel, while Brent grew from 0.60 percent to $ 60.89 in Europe.

Russia produces oil faster than ever before

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