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    Home»News»Wall Street extends its weekly losing streak amid recession fears

    Wall Street extends its weekly losing streak amid recession fears

    Stanley BowersBy Stanley BowersDecember 17, 2022No Comments2 Mins Read
    Wall Street extends its weekly losing streak amid recession fears
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    The biggest increases were presented by Megacable, with 7.57%; Orbia, with 6.95%; the Alfa conglomerate grew 5.48% and Walmart de México with 2.54%. On the other hand, the most important falls during the day this Friday were Volaris, with 4.96%; Peñoles, with 4.30% and Grupo Aeroporturio del Centro Norte (OMA), with 2.70%.

    During the week, the S&P/BMV IPC registered its third negative week with 1.7%. The last time it had recorded three consecutive weeks of declines was at the end of September. With this, the CPI registers a 6.93% fall in the year and is located 13.12% below its historical maximum reached on April 1.

    “The decisions were similar to that of the Fed, consisting of increases of 50 base points and marking the beginning of the slowdown in the cycle of increases. However, like the Fed, the monetary authorities emphasized that increases are still lacking to be carried out. Christine Lagarde, the president of the ECB, commented that the decision should not be seen as a pivot and that she expects the bank to raise the interest rate at a rate of 50 basis points for a while,” said Gabriela Siller, director of economic analysis of Banco Base.

    With information from Reuters

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