The Dow fell more than 100 points as investors grappled with protests sweeping China. This will affect the economy and the demand for oil.
As of 9:40 pm Thai time, the Dow Jones Industrial Average was at 34,236.01 points, down 111.02 points or 0.32%.
Energy stocks led the market down. In line with crude oil contracts that have continued to fall, most recently, WTI fell to $74, while Brent crude fell $81.
Chinese people are rioting to protest the government’s zero COVID policy. by gathering on the streets of various cities These include Shanghai, Beijing, Wuhan, Chengdu, Xi’an and Nanjing to express dissatisfaction that the government continues to lock down cities. which affects people’s lives While some protesters are demanding that President Xi Jinping resign.
However, retail stocks are expected to rebound. In response to the booming sales during the Thanksgiving season.
Adobe Analytics reported that online consumer spending on Cyber Monday rose 5.2% to $11.2 billion today. which is the highest level in history
Cyber Monday is the day that Americans shop online most of the year. This was triggered by the fact that various shops reduced their prices to boost sales towards the end of the year.
Additionally, Adobe revealed that consumers spent $9.12 billion online on Black Friday and $5.29 billion on Thanksgiving. which is the highest level ever recorded.
About 166.3 million Americans plan to shop from Thanksgiving to Cyber Monday this year, according to the National Retail Federation (NRF).
Investors are keeping an eye on the US third quarter gross domestic product (GDP) release on November 30 and non-farm payrolls on December 2.