On Wednesday, U.S. time, the market’s worries about a recession in Europe and the United States lingered. U.S. stocks opened lower collectively and then turned up for a while. The Dow fell 0.15%, the S&P 500 fell 0.13% and the Nasdaq fell 0.15%.From the perspective of the disk, energy stocks generally fell as international oil prices fell. Exxon Mobil and Chevron both fell by more than 4%, technology stocks also performed poorly, and most of the Chinese stocks fell.
Fed Chairman Powell: The U.S. economymay be in recession, the current financial conditions have tightened significantly
On the same day, Federal Reserve Chairman Powell said at a hearing in the U.S. Congress that the current U.S. inflation rate is too high and needs to be lowered, and the Fed is taking swift action.He also acknowledged that the U.S. economy could slip into recession.At the same time, Powell said, financial conditions in the U.S. have tightened significantly amid expectations that the Federal Reserve will raise interest rates sharply this year, with borrowing costs rising since last fall.
On the 22nd, the three major European stock markets fell across the board, and the German stock market fell more than 1%
European markets were also affected by pessimism and all closed down. The British London stock market fell 0.88%, the French Paris stock market fell 0.81%, and the German Frankfurt stock market fell 1.11%.
Biden will discuss with the seven major oil giants on the 22nd, international oil prices fell more than 5%
In terms of commodities, international oil prices fell sharply during European trading hours on Wednesday. The price of U.S. oil futures fell by more than 5%, falling below $103.24 per barrel, a new low since early May.At the close, light sweet crude oil futures for August delivery on the New York Mercantile Exchange closed at $106.19 a barrel, a decrease of 3.04%; London Brent crude oil futures for August delivery closed at $111.74 a barrel, a decrease was 2.54%.
There are two main reasons for the decline in oil prices. On the one hand, the market’s worries about the European and American economies have weakened the prospect of crude oil demand; The big oil giants met to discuss, and the market expects that Biden may take measures to control the current high oil prices to ease domestic inflation, and international oil prices fell sharply.