Monday, December 11, 2023

IPSA closed in the red and is in line with the negative global trend

Stock markets around the world experienced a negative day, due to the nervousness surrounding the Chinese economy, and concern about the health of the US economy, after the publication of some relevant data, in addition to the threat of US government shutdown.

The IPSA fell 0.44% to 5,760.37 points, and reached a new three-month low.

“In addition to the effects of the FED announcement last week, where the negative surprise came because now only two rate cuts are expected in 2024 (-50 bp), while four rate cuts were previously expected ( -100 bp in June), today. Investors are starting to pay attention to the budget negotiations in the United States and the possible threat of a government shutdown, because today the House of Representatives will propose 4 spending bills for the year 2024, which will force the shutdown of the government starting October 1,” said Guillermo Araya of Renta 4.

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Wall Street ended its operations with negative numbers, and the Dow Jones had its worst day since March. This Monday, Moody’s warned that the US government shutdown would be negative for its credit profile. In addition, services will be suspended and thousands of federal workers will be suspended without pay.

“The S&P 500 stock index fell to its lowest level in the last 3 months, in an environment where inflation fears have created volatility, where the recent increase in fuel prices directly affects the consumers, which can” This means that the Federal Reserve, which has primarily focused on core inflation, is considering further rate increases,” said Diego Valda of Zurich AGF.

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In Europe, the markets ended their operations mostly lower, in the face of a negative environment among the rate decisions of the main central banks of the world.

Nation World News Desk
Nation World News Desk
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