Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Israeli foreign ministry: The vessels and the passengers are transferred to an Israeli port, and the passengers are expected to be deported promptly.
Sumud Flotilla: Addameer vessel attacked by an Israeli military helicopter with 93 journalists, doctors and activists on board
Freedom Flotilla Coalition: The Addameer Vessel was seized by the Israeli Navy
Israeli ministry of foreign affairs says ships and passengers of the Freedom Flotilla will be transferred to an Israeli port and deported immediately
Freedom Flotilla Coalition: 3 ships attacked and illegally intercepted by Israeli occupation.
Ecuadorian President Daniel Noboa's motorcade comes under fire in Ecuador
Al Mayadeen's correspondent in Lebanon: Israeli quadcopter drops two shells on cafe in Houla town in South Lebanon
Informed source to Al Mayadeen: SDF Commander-in-Chief Mazloum Abdi demands that al-Sharaa approve the establishment of an autonomous region similar to the Kurdistan Region of Iraq.
Israeli media: Three drones launched from Yemen toward Eilat in span of 20 minutes.
Qatari Foreign Ministry: "Israel" should have already ceased fire under Trump plan for Gaza

Wall St. ends red for second week as stocks embrace Fed rate decision

  • By Al Mayadeen English
  • Source: Agencies
  • 16 Mar 2024 00:30
3 Min Read

The decline across US economic indicators comes as the March 20 Federal Reserve interest rate decision looms.

  • x
  • Wall St. ends red for second week as stocks embrace Fed rate decision
    A pole with a sign pointing toward Wall Street in 2019 (AFP)

Wall Street recorded a second consecutive red week due to the volatility of tech stocks ahead of next week's Federal Reserve interest rate decision.

The S&P 500 index, which monitors the stocks of the leading 500 US companies on the New York Stock Exchange, concluded on Friday at 5,119, decreasing by 32 points, or 0.6% for the day. Over the week, the S&P 500 declined by nearly 0.1%, mirroring the decline from the previous week.

Meanwhile, the Nasdaq Composite Index, which includes major tech companies like Google, Amazon, Apple, and Netflix, closed at 15,973, a drop of 155 points or nearly 1%. Compared to last week's 1.5% gain, the Nasdaq was 0.7% lower for the week.

Read more: Nvidia topping chip-making market for AI, decreasing competitive funds

The Dow Jones Industrial Average, which is a key indicator of Wall Street's stock performance and tracks 30 large US corporations, closed trading at 38,715, a decrease of 191 points or 0.5% for the day. It also declined by 0.1% for the week, similar to the past one.

The decline in both established and technology stocks occurred as data on US industrial production, factory activity, and consumer confidence showed mixed trends ahead of the rate decision on March 20.

Related News

Trump's Federal crackdown continue: National Guard arrives in Chicago

Gaza watchdog warns US Rafah hospital may advance Israeli interests

Thierry Wizman, a strategist in the US for the Australian financial group Macquarie, suggested that the mixed US economic data might lead central bank policymakers to question whether inflation has decreased sufficiently or if it is necessary to maintain restrictive interest rates.

"I think the other issue here is not just the 2024 and 2025 (outlook) … it is the other issues that the Fed is thinking about, which includes that the (stock) market is too frothy," he was quoted by the Wall Street Journal as saying.

"For that reason, it could signal that it thinks long-term interest rates should be higher."

Read more: US economy uncertain amid growth, inflation concerns: Powell

The Fed said it is looking to cut rates as inflation moderates. But the central bank says it needs the Consumer Price Index, an oft-used indicator of inflation, to first show an annual reading of 2% or lower.

The Fed has been discussing slashing rates as inflation was moderating. But it still eyes a Consumer Price Index CPI - a primary indicator of the inflation rate - of 2% or lower as a target before taking this step.

CPI was last recorded in February at 3.2% year-on-year, and higher than that in January at 3.1%.

Read more: JPMorgan CEO says US economy speeding toward a 'cliff' as debt rises

  • United States
  • Federal reserve
  • Wall Street
  • US economy

Most Read

Tucker Carlson speaks at a memorial for Charlie Kirk, Sunday, September 21, 2025, at State Farm Stadium in Glendale, Arizona (AP)

Tucker Carlson: Israeli officers gave orders on Iran inside Pentagon

  • Politics
  • 2 Oct 2025
A Hamas fighter in combat fatigues stands before the ceremony for the handover of Israeli captives to the Red Cross in Nuseirat, central Gaza Strip, Saturday, February 22, 2025 (AP)

Hamas responds to Trump plan, backs Gaza withdrawal, exchange

  • Politics
  • 3 Oct 2025
ap

'Israel' pays influencers $7K per post to whitewash Gaza genocide

  • Politics
  • 1 Oct 2025
Mossad’s secret role in Aldo Moro’s 1978 murder revealed

Mossad’s secret role in Aldo Moro’s 1978 murder exposed

  • Politics
  • 5 Oct 2025

Coverage

All
War on Gaza

Read Next

All
In this May 20, 20201, photo Marine Gen. Frank McKenzie, the head of US Central Command, arrives in Baghdad, Iraq (AP)
Politics

US spent $33 billion on post-Oct.7 genocide, wars, Brown Uni reports

Speaker of the House Mike Johnson, R-La., holds a news conference to mark the seventh day of the government shutdown, at the Capitol in Washington, Tuesday, Oct. 7, 2025. (AP)
Politics

US troops face unpaid wages as government shutdown drags on

Mourners wave Hezbollah and a Palestinian flag during the funeral of Hezbollah former leader Sayyed Hassan Nasrallah and his successor Sayyed Hashem Safieddine in the Sports City Stadium in Beirut, Lebanon, Sunday, February 23, 2025 (AP)
Politics

Hezbollah voices support for Gaza, Resistance on October 7 anniversary

Al-Aqsa Flood restored Palestinian cause on the global stage: Hamas
Politics

Al-Aqsa Flood restored Palestinian cause on the global stage: Hamas

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS