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The New York Stock Exchange plunged last night.
When the US Federal Reserve raised interest rates a lot at once, the UK and other countries raised interest rates, causing stock prices to plummet due to concerns about a recession.
Thirty thousand lines were broken.
Correspondent Kim Jong-won from New York.
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The relief rally in the New York Stock Exchange ended in one day.
Today (17th), the New York Stock Exchange closed significantly lower in all three major indices.
The Dow fell more than 700 points or 2.4%, breaking the 30,000 line for the first time in 17 months since January last year, when the coronavirus was in full swing.
The blue-chip S&P 500 fell more than 3%, and the Nasdaq fell more than 4%.
After the Fed's 0.75 percentage point hike in interest rates and the announcement of the Giant Step yesterday, the New York stock market, which held a relief rally amid hopes for easing uncertainty and stabilizing prices, today, failed to overcome concerns about a global economic downturn due to a series of interest rate hikes from around the world.
The UK and Switzerland also raised interest rates shortly after the Fed's rate hikes.
The UK raised interest rates by 0.25 percentage points, five times in a row, raising interest rates to the highest level in 13 years, and Switzerland also raised interest rates by 0.5 percentage points for the first time in 15 years.
[Kevin Mann / Henion & Walsh Wealth Manager: Switzerland also announced a 0.5 percentage point increase in interest rates.
This signaled that Switzerland would sell all US stocks, and I think that was the main reason for the plunge in the New York stock market today.] In the
European stock market, major indices surged from 2% to 3% at once due to a series of interest rate hikes by European countries. fell to