In the New York stock market on the 9th, sell orders swelled due to a sense of caution that the employment situation in the United States was firm and it would take time for inflation to converge, and the Dow Jones Industrial Average dropped sharply to over 500 dollars.
In the New York stock market on the 9th, the perception that the employment situation was firm spread as a result of the view that the number of applications for unemployment insurance announced on the day was relatively low.
Selling orders swelled out of caution that it would take time for inflation to converge.
The Dow Jones Industrial Average fell sharply over $600 at one point, closing at $32,254.86, down $543.54 from the previous day.
The Dow Jones Industrial Average fell for the third day in a row, dropping more than $1,100.
The Nasdaq stock index, which has many IT-related stocks, also fell sharply by 2%.
A market insider said, "In addition to a series of data showing a resurgence of inflation, Chairman Powell of the FRB = Federal Reserve Board said in congressional testimony on the 7th that the pace of interest rate hikes may be accelerated. Investors are becoming more wary of a significant interest rate hike.Many investors have placed sell orders for the time being before the release of the employment statistics on the 10th."