The Dow Jones Industrial Average temporarily dropped by more than $ 600 in the New York stock market on the 18th due to growing concerns about continued inflation due to the rise in crude oil prices.
The New York stock market on the 18th, which was closed the day before due to an American holiday and has been a transaction since last weekend, swelled sell orders immediately after the start of the transaction, and the Dow Jones Industrial Average temporarily dropped by more than $ 600.
The closing price was $ 35,368,47, down $ 543,34 from last weekend.
Concerns about continued inflation following a temporary rise in international crude oil futures prices in the New York crude market to a high of about seven years and three months, and US Treasuries in the New York bond market The background is that there is a growing sense of caution that long-term interest rates have risen to the 1.8% range.
The Nasdaq stock index, which has many IT-related stocks, also fell sharply by 2.6%.
Market officials said, "The acceptance that labor costs have increased due to inflation and labor shortages regarding the financial results of major financial institutions announced on this day also led to sell orders. Market interest is how long inflation will last. We are gathering to see if it will continue. "