Tuesday, 8 October 2024: Markets Retreat as Rate Cut Hopes Fade and Oil Prices Rise Amid Middle East Tensions

7 ott 2024 · 5 min. 21 sec.

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US equity markets retreated, handing back the previous session’s post jobs report surge as expectations for big interest rate cuts subsided and oil prices continued rising on concerns about Middle...

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US equity markets retreated, handing back the previous session’s post jobs report surge as expectations for big interest rate cuts subsided and oil prices continued rising on concerns about Middle East tensions - Dow shed 399-points or -0.94%. Travelers Companies Inc (down -4.34%) was the worst performer in the 30-stock index. Amazon.com Inc (down -3.06%) and Walt Disney Co (-2.9%) . Apple Inc fell -2.25% after Jefferies downgraded the company to “hold” from “buy”, saying expectations for sales of the iPhone 16 and 17 are too high.

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