The Dow doesn’t stop flowing. It recently plunged almost 200 points, approaching a breakout.

The Dow Jones continues to fall. It recently plunged nearly 200 points, approaching the 33,000 level, while energy stocks weighed on the market.

As of 11:17 pm Thai time, the Dow Jones Industrial Average was 33,059.98 points, down 181.58 points or 0.55%.

Energy stocks led the market down. This is in line with today’s 2% drop in oil prices due to concerns about oil demand in China. after a report on the increase in the number of people infected with COVID-19

The Dow jumped more than 100 points in the early days as China announced its opening earlier than expected.

However, experts say that China has opened up the country faster than expected This is both good and bad news for Wall Street.

Investors expect that opening up the country will help China’s economy improve. which will stimulate the expansion of the global economy But China’s opening has raised concerns about the widespread spread of COVID-19. Content will lead to an increase in inflation.

“If the opening of China is a positive factor for oil and commodity prices, This is also bad news for global inflation. As Chinese demand fuels inflation through rising oil and commodity prices. And central banks around the world will respond to rising inflation by raising interest rates,” Ipec Ozkardescaya said. said a senior analyst at Swissquote Bank.

China has relaxed its policy to control the spread of COVID-19. continuously After three years of strict enforcement, China’s National Health Commission (NHC) said on Monday that China will lift quarantine measures for people traveling abroad From January 8, 2023, and measures to control COVID-19 will have relaxed to a Category B level from the current Category A level, which is the highest deterrent measure.

In addition, China’s immigration office said yesterday that China will resume issuing visas for mainland Chinese nationals for outbound travel from January.