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Wall Street closes slightly in the red – Rising yields on government bonds

Traders on the New York Stock Exchange

The threat of an economic downturn is not over yet.

(Photo: Reuters)

New York After a strong previous week, sadness returned to Wall Street on Monday. The leading index Dow Jones Industrial closed after a lethargic, lacking in stimulus trading with 0.20 percent in the red at 31,438.26 points. According to economists, robust data from US industry support the expectation of rapidly and strongly rising interest rates in the USA. Yields rose again on the bond market, which held back share prices.

The tech-heavy Nasdaq 100 lost 0.81 percent to 12,008.24 points. The market-wide S&P 500 fell 0.30 percent to 3900.11 points.

In May, US manufacturing durable goods orders data rose more-than-expected. According to the Landesbank Helaba, the figures underpin the interest rate expectations with a view to the US Federal Reserve. A solid economy enables “a rapid monetary tightening process to get inflation under control”.

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