Last week on Wall Street was the worst since the start of the pandemic

Last week on Wall Street was the worst since the start of the pandemic

Last week on Wall Street was the worst since the start of the pandemic

New York Stock Exchange traders   Last week was the worst week on Wall Street since the start of the pandemic

The US stock market has been declining for the 11th week in a row due to investor anxiety about inflation and too drastic measures by central banks to reduce it

One of the main indexes of the New York Stock Exchange (NYSE) S & P 500, closed last Friday, having risen by only 0.2%. This slight increase did not affect the overall negative result of the last 11 weeks, when the S&P 500 “closed” ten times. in the red.

Analysts explain this “bearish” trend by the fact that the central banks of different countries, in order to curb inflation, began to raise interest rates. This measure usually helps to stop prices rising by reducing trade and financial activity, but the stock markets do not like this strategy, as it slows down business activity and increases the risk of a recession.

June 5, the leadership of the Federal Reserve System ( The Federal Reserve, acting as the US central bank, raised the base discount rate by 75 percentage points at once, which has not happened since 1994. Now the rate is 1.5-1.75%, instead of the previous 0.75-1.00%.

Economic difficulties in the United States have also exacerbated the vagaries of nature: more than 1,100 passenger flights were canceled on Friday at airports in central and eastern states of the country due to powerful thunderstorms. For the same reason, a day earlier, on June 16, another 1,700 flights were cancelled. The flight schedule has been severely disrupted as the summer holiday season has already begun in the United States.

To resolve the situation, US Secretary of Transportation and former presidential candidate Pete Buttigieg met with the heads of leading airlines and discussed with them what steps the industry can take to normalize commercial air travel.