Wall Street drops on rate hike worries

The indices of Wall Street declined today after the release of the US employment report for August, which showed the addition of 162,000 jobs, significantly exceeding expectations of 56,000 jobs. Although the report was considered positive, it increased the likelihood of the Federal Reserve raising interest rates at its upcoming meeting, in response to inflationary pressures linked to energy prices resulting from the war. This led to a decline in the three major indices, with the Dow Jones down by 0.54%, the Nasdaq by 0.30%, and the S&P 500 by 0.38%. Market expectations indicate a 58.4% chance of a rate hike at the September meeting, up from 49.4% previously.

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