Ultima Markets[Market Hotspot] Middle East War and Disappointment Bank Profit, Wall Street...

4month12On Friday, the Wall Street stock market experienced a sharp decline, with the three major playersstock market indexCollect ink all the way. Standard&Poor's 500 Index welcome from1The worst day of the month, lost1.46%And the Dow Jones Industrial Average plummeted475 Point（-1.24%）Even the NASDAQ index fell 1.62%。 The pessimistic sentiment is largely fueled by the financial reports of large banks and the escalation of tensions in the Middle East.  

At JPMorgan Chase(JPM.US)Wells Fargo Bank (WFC.US) And Citigroup(C.US) After exposing the negative impact of high interest environment on its net interest income, the bank's stocks were sold under pressure.

Despite exceeding expectations in profits and revenue, JPMorgan Chase's stock price continues to decline 6.3%; The stock price of Wells Fargo Bank has fallen 0.3%Reported profit reduction 7%Citigroup's stock price has fallen 1.6%。 Although profit growth 36%, BlackRock (BLK.US) Also with 2.6% Closing with a decline.  

since2022year3Month, the Federal Reserve has raised12Secondary interest rate, total5.5%。 In addition, it also indicates its firm commitment to maintaining high interest rates for an extended period of time to cope with stagnant inflation. High interest rates may lead to a decrease in the value of bonds held by banks, exacerbating financing challenges as banks will have to offer higher interest rates to attract depositors.

Technology companies have also not been spared from shocks, Microsoft (MSFT.US) fall 1.4%Nvidia(NVDA.US) fall 2.7%，Alphabet(GOOGL.US) Decline 1%。 According to reports, the Chinese government has instructed its major telecommunications operators to gradually phase out foreign processors,AMD(AMD.US) Plummet 4.2%Intel (INTC.US) fall 5.2%。  

Overall, S&P500The index fell last week1.6%The Dow Jones Industrial Average fell2.4%The Nasdaq index fell0.6%。

(S&P500Index monthly chart)

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