US stocks fall ahead of ECB meeting
US stocks fell today as the market is cautiously anticipating the European Central Bank's meeting on next Thursday in addition to the US Fed's meeting next week.
Expectations are that the ECB will announce monetary stimulus to support the euro zone economy, including a rate cut to a negative range.
Forecasts are that the ECB will cut interest rates to a negative range on Thursday to stimulate the european economy.
The US Federal Reserve will announce its interest rate decision with forecasts of a another cut this year.
While the Fed Chair Jerome Powell stated that the labor market is still strong and the economy is doing well but inflation is still weak, which analysts interpreted as a hint of a rate cut.
By 15:11 GMT, Dow Jones fell by 0.3% or 75 points to 26,760 points, Nasdaq fell by 0.7% or 56 points to 8,031, and S&P 500 fell by 0.5% or 16 points to 2,961.
| Symbol | Last | Change | Chg.% | ||
|---|---|---|---|---|---|
|
|
|
1.1020
|
-0.0015
|
0.1364%
|
|
|
|
|
1.3039
|
-0.0043
|
0.3283%
|
|
|
|
Tadawul
|
8178.47
|
-148.50
|
1.78%
|
|
|
|
|
18.044
|
-0.060
|
0.331%
|
|
|
|
|
53.215
|
-1.058
|
1.948%
|
|
|
|
|
59.20
|
-0.10
|
0.17%
|
|
|
|
|
1579.080
|
8.450
|
0.538%
|
|
