However, disappointing foreign trade data from China and reluctance to make interest rate decisions hampered the recovery after the leading US index has lost close to 3 percent since the end of November.
The Dow closed unchanged at 33,598 points, while the tech-heavy Nasdaq stock market lost more. The Nasdaq fell 0.45 percent to 11,497 points.
Analyst Christian Henke of IG Markets commented that “China, the engine of growth, is losing momentum” on Chinese imports and exports, which were marked by the zero Covid policy in November and fell sharply. “This reassures fears that economies are going through a tough time,” said Susannah Streeter of wealth manager Hargreaves Lansdown.
China is also at the center of the discussion at Tesla. Shares fell 3.2 percent on Wednesday amid reports that the electric car maker is cutting some models there to fuel sluggish demand.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
