久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

Global EditionASIA 中文雙語(yǔ)Fran?ais
World
Home / World / Americas

S&P closes down in broad sell-off fueled by inflation fears

Updated: 2021-05-12 04:28
Share
Share - WeChat
[Photo/Agencies]

NEW YORK - The S&P 500 closed lower on Tuesday as rising commodity prices and labor shortages prompted fears that despite reassurances from the U.S. Federal Reserve, near-term price spikes could morph into longer-term inflation.

While all three indexes pared their losses from session lows, the sell-off was fairly evenly dispersed across the sectors.

"Today feels like a catch-up in that tech has been weak so far this month and it's finally spilled over into other areas of the market and we're seeing broader weakness," said Ryan Detrick, senior market strategist at LPL Financial in Charlotte, North Carolina.

Economic data released on Tuesday from the Labor Department showed job openings at U.S. companies jumped to a record high in March, further evidence of the labor shortage hinted by Friday's disappointing employment report.

The report suggests labor supply is not keeping up with surging demand as employers scramble to find qualified workers.

Burrito chain Chipotle Mexican Grill announced it would hike the average hourly wage of its workers to $15, a further sign that the worker shortage in the face of a demand revival could add fuel to the inflation surge.

That worker shortage, along with a supply drought in the face of booming demand could contribute to what is seen as inevitable prices spikes, which the U.S. Federal Reserve has repeatedly said are unlikely to translate into long-term inflation.

"The inflation concerns continue," Detrick said. "The supply chain issues coupled with record stimulus coupled with apparently a tighter labor market have all contributed to fears that inflation could trend higher over the summer months."

"I don't think (the market) believes the Fed when it says they won't raise rates until after 2023," Detrick added. "That could be where the market and the Fed do not see eye to eye."

Market participants will scrutinize the Labor Department's CPI report, due early Wednesday, for further signs of potential inflationary pressures. 

Unofficially, the Dow Jones Industrial Average fell 472.21 points, or 1.36%, to 34,270.61, the S&P 500 lost 36.33 points, or 0.87%, to 4,152.1 and the Nasdaq Composite dropped 12.43 points, or 0.09%, to 13,389.43.

The CBOE Volatility index, a measure of investor anxiety, touched its highest level in two months.

First-quarter reporting season, which is providing the first year-on-year comparison to pandemic-related shutdowns, is approaching the finish line with 451 constituents of the S&P 500 having reported. Of those, 86.9% have beaten consensus expectations, according to Refinitiv IBES.

Analysts now see first-quarter S&P earnings growth of 50.5% year on year, up substantially from the 16% growth forecast at the beginning of the year, per Refinitiv.

Boeing Co lost ground after the planemaker announced deliveries of its 737 MAX fell to just four planes in April due to an electrical problem.

Tesla Inc continued its slide following the electric automaker's decision to expand its Shanghai plant owing to heightened U.S.-China tensions.

Mall REIT Simon Property Group Inc fell after the company said it does not expect a return to 2019 occupancy levels until next year or 2023.

L Brands Inc announced it will split into two publicly traded companies, Bath & Body Works and Victoria's Secret.

Reuters

Most Viewed in 24 Hours
Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 美女被躁爽死 | 日本免费在线视频 | 亚洲最大看欧美片网站 | 国产一区二区三区不卡免费观看 | 国产一级网站 | 97久久曰曰久久久 | 亚洲综合片 | 日韩欧美中文字幕在线播放 | 欧美亚洲视频在线观看 | 国产亚洲欧美久久精品 | 欧美另类视频一区二区三区 | avtt亚洲一区中文字幕 | 日韩一区二区天海翼 | 日产乱码精品一二三区 | 久久精品99毛片免费 | 精品亚洲成a人在线观看 | 欧美高清在线 | 亚洲免费国产 | 黄色不卡视频 | 国产精品jvid在线观看 | 国产一区二区在线不卡 | 日韩大片高清播放器大全 | 中文字幕成人在线 | 亚州免费一级毛片 | 亚洲国产精品日韩在线 | 日本乱理伦片在线观看网址 | 一级特黄a免费大片 | 久草网站 | 中文字幕成人免费高清在线 | 国产亚洲精品午夜一区 | 国产网站黄色 | 国产中文在线视频 | 欧美在线观看a | 免费一级欧美片在线观看 | 一级一级毛片免费播放 | 最近日本免费观看视频 | 香港aa三级久久三级 | 久久99国产精一区二区三区 | 国产亚洲欧美日韩在线观看一区二区 | 国产在线视频精品视频免费看 | 理伦毛片 |