Wall Street closes in red and the Dow Jones falls 0.77%

New York, May 24. Wall Street closed this Wednesday in red, and the Dow Jones Industrials, its main indicator, fell for the fourth consecutive day, in this case 0.77%, when investors eagerly await that the Democrats and Republicans can reach an agreement on the US debt ceiling

At the close of operations, the Dow Jones fell to 32,799 units and the selective S&P 500 lost 0.73% to 4,115 points.

The negotiations on the debt ceiling continue without leading to an agreement: today, the president of the United States, the Democrat Joe Biden, made it clear that he will not allow 30% cuts in items such as education or security, as the Republicans intend, to reach an agreement that avoids suspension of payments.

“It will not happen with the president in command,” White House spokeswoman Karine Jean-Pierre stressed today at a press conference, after hearing this morning from the speaker of the House of Representatives and leader of the Republicans in Congress, Kevin McCarthy, will underline among his demands that the Government spend less than last year.

The concern about a lack of agreement on the debt ceiling is also being felt in the Old Continent, since the main European stock markets have fallen sharply this Wednesday.

Milan has lost 2.39%, Frankfurt, 1.92%; London, 1.75%; Paris, 1.7%; Madrid, 1.12%; and the Euro Stoxx 50 index, which represents the largest listed companies, 1.81%.

The Wall Street sectors with the biggest losses were real estate and financials, which fell by 2.21% and 1.31%, respectively, and the only gain was for energy, with a rise of 0.52 %.

Among the 30 Dow Jones stocks, the companies with the biggest losses were 3M (-3.68%) and Walgreens (-2.56%), while the biggest gains were for Salesforce (1.17%) and UnitedHeath (0 .29%).

In other markets, Texas oil closed at $74.34 a barrel, and at the end of the trading session the yield on the 10-year US bond rose to 3.74%, gold fell to $1,960 an ounce, and the dollar was losing ground against the euro, with a change of 1.074. EFE

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