World
Dow falls, crude oil prices rise in New York | NHK WORLD-JAPAN News
Share prices in New York fell on Monday as strong jobs data out of the United States pared expectations that the Federal Reserve will make a major interest rate cut.
The Dow Jones Industrial Average gave up more than 500 points at one stage as investors placed broad sell orders. Nonfarm payroll figures announced on Friday far exceeded market expectations.
The benchmark index slid 398 points, or 0.9 percent, from last week’s close to end at 41,954 on Monday.
Market players say US long-term interest rates rose due to expectations that the Fed’s rate cuts will slow, leading to concerns over the negative impact on businesses.
Meanwhile, crude oil prices climbed in New York amid concerns over Israel’s potential reactions to Iranian attacks. Investors are also worried over another hurricane approaching Florida that could damage oil facilities.
The benchmark WTI crude futures reached the mid-77 dollar level per barrel at one point on Monday, the highest figure since late August.
Dow falls, crude oil prices rise in New York | NHK WORLD-JAPAN News
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