Reduce debt, yield and Delta hammer Wall Street

NEW YORK: It was a bad day for US stocks Tuesday due to consumer confidence, rising bonds and fears of a lack of credit led to a sharp rise in indices.
The sale began in earnest when the Board of Directors said that U.S. consumer confidence had plummeted in the third straight month as Delta’s rapid Covid-19 divergence led Americans to pay more attention to the economy.
There was no temporary progress throughout the day in Washington, where lawmakers had to approve the decision to form a government and raise debt repayment, which Treasure warned could come on October 18th.
The crisis increased sales on Wall Street, and the Dow Jones Industrial Average index closed 1.6 percent below 34,299.99.
The broadest S&P 500 fell by two to 4,352.63, while the heaviest Nasdaq Composite Index lost 2.8% to 14,546.68.
Experts on Wells Fargo he also spoke of the increase in yields on the US economy, calling it a “risk factor”. The 10-year mark was offering about 1.55% as soon as the market closed.
Traders are expected to testify on Thursday in Congress by Secretary of Treasure Janet Yellen, and Chairman of the Federal Reserve of Jerome Powell.
Yellen must also be warned of the dangers that do not bring the debt, and she is being interrogated at President Joe Biden’s twin studies to repair US infrastructure and billions of dollars.
Powell could respond to a move by the central bank to cut short-term monthly purchases of bonds and other shares, which were first set up last year to help finance the outbreak.
The plan has been criticized for rising inflation, although last week, investors in the central bank said “soon” it would be time to start delaying them – which could lead to tensions in the market, as they appear to help corporations perform better.

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