The Dow Jones Industrial Average fell more than 200 points as investors feared the protests were raging across China. This will affect the economy and the demand for oil.
As of 11:10 pm Thai time, the Dow Jones Industrial Average was at 34,084.49 points, down 262.54 points or 0.76%.
The CBOE Volatility Index (VIX), a gauge of investor anxiety in the US stock market, rose 7.32 percent to 22.0 on Thursday.
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 rose against the market. 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 will keep an eye on the US third quarter gross domestic product (GDP) release on November 30 and non-farm payrolls on December 2.