Tuesday, October 3, 2023
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Wall Street ‘gets sad’: Closes with losses before Fed statements

Operations within Wall Street were maintained down This Wednesday, while traders focused their attention on the statements by members of the Fed, which continue to maintain a hawkish tone, they also await a vote by Congress on the agreement to avoid a breach of US obligations.

Philip Jefferson, Governor of the Federal Reserve, said Wednesday that “the decision to hold our policy rate constant at an upcoming meeting should not be interpreted as meaning that we have reached the top rate for this cycle. In fact, omitting a rate hike at an upcoming meeting will allow the Committee to see more data before making decisions on the scope of additional policy.”

The high technology content index Nasdaq led the declines of the session with 0.663 percent, at 12,935.29 points, followed by a decrease of 0.61 percent for the S&P 500, at 4,179.83 points and 0.41 percent less for the Dow Jones Industrial Average, which reaches 32 thousand 908.27 units.

On the other side of the world, a contraction in the PMI manufacturing index caused the Shanghai Composite to end at 3,204.56 points with 0.61 percent less, while the Hang Seng in Hong Kong fell 1.94 percent, around 18,234.27 integers.

At the local level, the S&P/BMV IPC of the Mexican Stock Exchange subtracted 1.14 percent, at 52,736.26 points and the FTSE-BIVA of the Institutional Stock Exchange lost 1.05 percent, at 1,94.88 units.

Likewise, the oil prices they extended their losses and the West Texas Intermediate (WTI) fell 1.97 percent, at a price of 68.09 dollars per unit and the benchmark Brent subtracted 1.20 percent, at 72.66 greenbacks per barrel.

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