US stock markets declined on Wednesday. The Dow Jones, calculated at the New York stock exchange, closed at 44,628 points, a 0.2% increase from the previous trading day.
Minutes earlier, the broader S&P 500 had reached around 6,140 points, a 0.2% gain and the technology-heavy Nasdaq 100 had closed at approximately 22,176 points, a 0.1% increase.
Investors had previously celebrated the presidential election in November, anticipating a boost in the economy under Trump’s presidency. However, the threat of Trump’s migration and trade policies is now jeopardizing the expected decrease in interest rates. According to the minutes of the latest Federal Reserve meeting, members of the Federal Open Market Committee expressed concern over Trump’s plans, which could rekindle inflation, as stated in the protocol.
The European common currency was weaker on Wednesday evening, with one euro exchanging for 1.0424 US dollars and one dollar for 0.9593 euros.
The gold price showed little change, with one fine ounce selling for 2,935 US dollars, equivalent to 90.54 euros per gram, at the close of trading.
In contrast, the oil price rose, with a barrel of Brent crude oil, from the North Sea, trading at 76.11 US dollars at around 22:00 Central European Time, a 27-cent or 0.4% increase from the previous trading day’s close.