Dow Jones futures fell more than 400 points today, weighed down by a fall in bank stocks in pre-market trading. While Moody’s Investors Service, the United States credit rating agency It was announced to downgrade the credit rating of the United States banking system from “stable” to “negative”.
As of 5:48 pm Thai time, Dow Jones futures fell 471 points or 1.45% to 31,931 points.
Bank stocks fell in pre-market trading. behind Credit Suisse, a Swiss bank with US operations fell more than 20%
The Dow Jones Industrial Average closed more than 300 points higher on Tuesday after the US released its consumer price index (CPI) for February, in line with analysts’ expectations. and slowing down from January It shows that inflation has passed its peak. And it will be a factor that supports the US Federal Reserve (Fed) to slow down the rate increase In addition, investors responded to measures by the US government to protect deposits and established the “Bank Term Funding Program” to prevent a crisis Silicon Valley Bank (SVB) from spreading to other financial institutions.
However, Moody’s Investors Service, the United States credit rating agency, announced to downgrade the credit rating of the US banking system from “stable” to “negative”, warning that, although the US authorities have announced measures to contain the SVB crisis , that other banks with unrealized losses or depositors who do not receive a deposit guarantee continue to face risks
Investors are keeping an eye on the economic numbers tonight. This includes the Producer Price Index (PPI) and retail sales. Look for signs of interest rate direction at the Federal Reserve (Fed) monetary policy meeting next week.
