U.S. stock markets saw losses on Wednesday. At the closing bell in New York, the Dow Jones Industrial Average was calculated at 51,180 points, representing a decline of 0.7 percent compared to the previous trading day. Slightly sooner, the broader S&P 500 was trading down by 0.2 percent with around 7,802 points, while the technology-focused Nasdaq 100 was measured at roughly 31,160 points, also down 0.2 percent at that time.
Regarding the fight against inflation, members of the Federal Reserve’s Open Market Committee indicate through the protocol from the last interest rate meeting, published on Wednesday, that they lean toward another increase in the benchmark interest rate this year. Most participants expressed the view that an further hike in the target range for the key interest rate would likely be appropriate before the end of the year. However, the document also reiterated that decisions made at future meetings will depend on incoming data and how that data affects outlooks and risk profiles.
The European common currency weakened by Wednesday evening: the Euro exchanged hands at $1.1196 to the US dollar, meaning the dollar could be obtained for 0.8932 Euros.
The price of gold dropped noticeably, with the spot price settling at $4,104 per troy ounce in the evening, a 1.4 percent decrease. This equates to 117.86 Euros per gram.
Meanwhile, the price of oil increased. At around 10 PM Central European Time on Wednesday, a barrel of Brent North Sea crude cost $101.00, marking a 0.4 percent rise, or 38 cents, compared to the previous day’s close.
