The resignation of Prime Minister Truss is a “disaster” not only for the British people, but also for US market analysts. The imponderables in the United Kingdom unsettle Wall Street – many courses wobble.
Due to uncertainty about the future development of the British economy, investors are reluctant to invest in Wall Street. A few hours after British Prime Minister Liz Truss announced his resignation, the US blue chip index Dow Jones and the tech-heavy Nasdaq fell about 0.3 percent to 30,333.59 and 0.6 percent to 10,614.84 points, respectively. The broad S
“Truss was undoubtedly a complete disaster and I’m not sure who exactly is going to calm the country down at this point,” wrote market analyst Craig Erlam of brokerage house Oanda. There will be calls for new elections, but that cannot provide security or leadership for the country in the midst of a crisis. “It seems that there are only bad options on the table.” At the same time, the reporting season remained in focus.
Many important balance sheets, such as those from Apple and Microsoft, will not come until next week. Analysts also remain divided on how to interpret previous reports. “So far, about two-thirds of the companies from the S
Investors were also far from reassured by weekly initial US jobless claims, which could provide clues to possible monetary easing. Positive forecasts from IBM and AT
At the same time, payment service provider Western Union fell 5.68 percent to a ten-year low after a disappointing forecast for 2023. Shares in the sporting goods manufacturer Nike also fell by a good 1.96 percent after German rival Adidas had to scale back its profit and sales expectations significantly for the second time in three months.
