North American stock markets closed lower, under pressure from the gloomy forecasts of several banks responsible for the Atlantic. These warnings come at a time when concerns are growing about the impact that successive increases in interest rates by the US Federal Reserve will have on economic growth and corporate performance.
The underlying S&P 500 fell 1.44% 3.941.26 points, closing the fourth consecutive day of losses. The Nasdaq Composite Technology Index fell 2% to 11.014.89 points, while the Dow Jones Industrial Average fell 1.03% to 33.596.34 spots.
Tech giants like Apple, who The self-driving car launch has been delayed until 2026, according to Bloomberg., and Microsoft has strongly influenced stock market performance. In the case of the Apple company headed by Tim Cook, shares lost more than 3% after the news.
David Solomon, CEO of Goldman Sachs, warned Tuesday of job cuts, citing “difficult times” ahead.
Brian Moynihan, chief executive of Bank of America, said the organization was cutting hiring, while Jamie Dimon, CEO of JP Morgan Chase, acknowledged that the next year could be marked by a “moderate to severe recession.”
