US stock market responds to OECD statement

11 months ago

Key US indices closed on Wednesday trading in different directions.

The Dow Jones Industrial Average fell 282.31 (-1.04%) to 26,999.99. NASDAQ added 66.59 points (+ 0.67%) and reached 10 020.35 for the first time. The S&P 500 lost 17.04 points (-0.53%), to 3,190.14.

According to The Wall Stret Jornal, the Organization for Economic Co-operation and Development (OECD) notes that a second wave of quarantine will hit the global economy, which is already facing a severe recession. The OECD expects the global economy to shrink by 6% this year if a second wave of infections and new containment measures can be avoided.

The Federal Reserve said it intends to provide more support to the economy after the pandemic. The Fed predicts that it will not raise interest rates until 2022, and it will maintain its recent pace of purchasing treasury and mortgage-backed securities.

Recall, according to the results of past trading, the index of technology companies closed with growth in the USA. Key indices also closed then in different directions.

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