Wall Street is red, investors take advantage to take profits

VTV.vn - The US stock market continued to decline in the session on September 25, as investors took profits after a series of strong increases that brought the indexes close to record levels.

Caution was heightened after Federal Reserve Chairman Jerome Powell warned that stock valuations may be too high, while markets awaited inflation data due later this week.

Investors are trying to guess the next path of interest rate policy as the Fed seeks to support an economy showing signs of weakness in the labor market without stoking inflationary pressures. Earlier this week, all three major Wall Street indexes and the small-cap Russell 2000 index closed at record highs for the first time in years.

In that context, Mr. Powell commented that stock prices “seem to be quite high” and emphasized that the Fed will have to “walk a tightrope” in upcoming policy decisions when the internal division is still about the level of monetary policy easing.

At the end of the session, the Dow Jones index fell 171.50 points (0.37%) to 46,121.28 points; the S&P 500 lost 18.94 points (0.28%) to 6,637.98 points; and the Nasdaq Composite fell 75.62 points (0.33%) to 22,497.86 points.

Materials fell the most among the 11 S&P 500 sectors, down 1.6%, after Freeport-McMoRan shares plunged 17%. Energy rose 1.2% as oil prices hit a seven-week high.

Investors are now focusing on the personal consumption expenditure (PCE) index – the Fed's preferred inflation gauge – due later this week for further signals on the direction of monetary policy.

Source: https://vtv.vn/pho-wall-do-san-nha-dau-tu-tranh-thu-chot-loi-100250925094017987.htm