Stock markets extended their decline as energy prices jumped, with the S&P 500 falling 0.8% and the Dow Jones down 190 points. The sell-off reflects growing investor concern over sticky inflation and delayed Federal Reserve rate cuts. Meanwhile, oil prices surged 3.7% to $89.50 a barrel, driven by supply concerns in the Middle East.
In corporate news, SK Hynix announced it has scrapped the planned U.S. IPO of its flash-memory subsidiary, citing unfavorable market conditions. The move underscores the challenges facing tech listings amid volatile markets. American Express also made headlines, revealing plans to cut 5% of its global workforce as part of a cost-reduction strategy. The company cited the need to streamline operations amid economic uncertainty.
Analysts noted that both decisions reflect broader caution across Wall Street, where companies are prioritizing financial discipline over expansion. The combination of rising energy costs and corporate belt-tightening has heightened fears of a prolonged economic slowdown, keeping investors on edge as they await the next round of earnings reports and policy signals.
Fuente: Wall Street Journal Markets · Resumido por HeadlinesBriefing