Last Friday the US indices slid 1.7% following the US data on labor market. Early this week, the United States celebrated the Labor Day, that’s why the trading floors were closed.
However, the data for August 2015 is controversial, the experts say.
Uncertainty as to whether the government will raise the interest rates causes concerns among investors. It is not clear until now whether the regulator will decide to take this step in September, whereas Jeffrey Lacker, the president of the Richmond Federal Reserve Bank, tends to believe that a rate hike is likely to happen in September.
Last Friday all ten industry sectors of S&P 500 showed a decline. Standard & Poor's 500 Index dropped 3.4% for the last week, Dow Jones Industrial Average lost 3.3%, and Nasdaq Composite fell by 3%.
Mostly, Materials and Financials were considerably influenced. Thus, Freeport-McMoRan Inc. securities showed the highest loss of 4.2% as a result of copper prices slump. Alibaba Group Holding Ltd. and Goldman Sachs Group Inc. stocks fell by 3.9 and 1.9%, respectively. JPMorgan Chase & Co. securities were down by 1.9%.
The capitalization of such engineering companies as Caterpillar Inc. and Joy Global Inc. shrank by 1.8 and 1.4%, respectively.
