Global Markets Face Tech Fluctuations
Wall Street indices declined for the second consecutive week due to volatility in the technology sector, inflation pressures, and rising interest rates. Shares of electronics chip manufacturers fell, and markets were affected by expectations of an interest rate hike by the Federal Reserve. The Nasdaq index dropped by 2.1% over the week, closing around 24,975 points. Meanwhile, the S&P 500 declined by 1.25% to 7,412 points, and the Dow Jones decreased by 0.62% to 51,947 points. Oil prices were affected after their recent rise, with Brent crude settling at $96.78 a barrel after a 3.9% decline. The yield on 10-year U.S. Treasury bonds dropped to approximately 4.68%. Investors are now heavily betting on a rate increase, with a 36% probability of a hike next week and an 80% chance in September. This comes amid the imposition of new tariffs on over 60 trading partners, reflecting mounting pressures on global markets.
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