NVDA
NVIDIA
-- 108.380 TSLA
Tesla
-- 259.160 PLTR
Palantir
-- 84.400 AMZN
Amazon
-- 190.260 GOOG
Alphabet-C
-- 156.230 
Wall Street stocks fell in response to the Fed minutes, and bank stocks increased losses
Summarize
・In July, Fed policy makers were divided over the necessity of additional interest rate hikes
・Quarterly earnings exceed target earnings
・Banks will increase losses
・S&P 500 -0.36%, NASDAQ -0.44%, Dow -0.18%
exhaustive
The summary of the proceedings of the US Federal Reserve (Fed) was announced, and after it became clear that central bank officials were divided over the necessity of additional interest rate hikes at the previous meeting, Wall Street fell on Wednesday.
As of 3:02 p.m. ET, the S&P 500 index $S&P 500 Index (.SPX.US)$The Nasdaq Composite Index fell 15.86 points (0.36%) to 4,422 points $Nasdaq Composite Index (.IXIC.US)$ The Dow Jones Industrial Average fell by 59.84 points (0.44%) to 13,571.21 points. DJI $Dow Jones Industrial Average (.DJI.US)$ 61.97 points 0.18%) depreciated at 34,884.42.
Bank stocks widened their losses, and the S&P 500 Bank Index fell 0.9%. Bank of America fell 1.9 percent and led losses among major banks.
NVIDIA is ahead of the quarterly financial results of chip design companies next week, and since 2 securities companies further raised stock price target stock prices, it fell 0.12% after rising in the past 2 transactions.
In the S&P 500 constituent stocks, the number of falling stocks exceeded the number of rising stocks by a ratio of 1.9 to 1.
Analysts' comments
・Vice President Mike Reynolds said, “We have seen an unbelievable rise in the market so far this year. This greatly betrays expectations of a bearish response to the recession so far this year. Some momentum has begun to emerge from that rise,” he said.
“Investors are starting to take a more sober look at the economic situation here.”
・However, the minutes showed that most policymakers continue to prioritize fighting inflation.
・Peter Taz, president of Chase Investment Counsel in Charlottesville, Virginia, said, “I agree with the governors in that they are not sure that inflation is completely in the rearview mirror.”
“The market will be out of focus on what the Fed will do from September to October.”
・Investors mostly anticipate that the Fed's monetary tightening is coming to an end, but there are also strong concerns that the central bank will maintain interest rates at current levels for a long period of time.
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