There were lows on the day as early as morning amid reports of a lockdown in
In addition, signs of weakness from US retailers were seen as a negative omen for the overall economy. Among stocks in focus, Target retreated 24.87% and
Among other important stocks, Apple retreated 5.64%, Amazon retreated 7.16%, and Microsoft, 4.55%. Alphabet lost 3.93%, and among banks, Citigroup dropped 3.39% and
Tesla was down 6.80%, after the paper was removed from the S&P 500 ESG index for lack of a detailed low-carbon strategy.
Capital Economics predicted that the S&P 500 index is likely to retreat further. In a report, the consultancy points out that the Fed will keep tightening, to contain high inflation, which for it will take the index to 3,750 points by the middle of next year.