The Dow Jones Industrial Average (DJIA) declined alongside the other major US equity indexes as risk aversion strikes again just ahead of Wednesday’s latest Federal Reserve (Fed) rate call.
Dow Jones tumbles as inflation concerns return to cloud rate cut hopes. US wage pressures increased, driving fresh inflation fears. Dow Jones backslides 300 points, at risk of falling below 38,000. The Dow Jones Industrial Average declined alongside the other major US equity indexes as risk aversion strikes again just ahead of Wednesday’s latest Fed eral Reserve rate call.
down to a low of 38,028.81. The major equity index is poised for a continued decline below 38,000.00. The Dow Jones faces a technical rejection from the 200-hour Exponential Moving Average at 38,337.24. Downside pressures are clear until the last near-term swing low into 37,750.00, while the index remains down 1.3% from last week’s peak bids near 38,550.00.
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