Wall Street was hit by the fear of tightening of monetary policy

Wall Street was hit by the renewed fear of an early tightening of US monetary policy, with the Dow Jones index ending the day down 0.9 percent to 34,688 points. The S&P 500 (4,327 points) and the Nasdaq indices (14,427 points) each lost 0.8 percent. "Inflation puts pressure on the standard of living, especially that of households with lower and middle incomes, and leads to higher-income households postponing larger purchases," said economist Richard Curtin, explaining the sentiment data. Investors also sold US Treasuries. This drove the yield on trend-setting ten-year bonds to 1.305 percent. US retailer revenue rose 0.6 percent in June from the previous month. Experts had expected a minus of 0.4 percent. If the numbers for the coming months are also above expectations, the US Federal Reserve has to ask itself whether inflation will really be as temporary as it thinks so far, said investment strategist Joe Perry of the online broker Forex.com. In addition, the rising number of coronavirus cases gave stockbrokers a headache. Some US regions such as Greater Los Angeles have already announced the reintroduction of the mask requirement. Meanwhile, the price of nickel rose as much as 2.3 percent to a five-month high of $ 19,205 a ton. A strong demand meets a short supply, said Commerzbank analyst Eugen Weinberg. In addition, investors feared delivery shortfalls due to the unrest in South Africa, an important export country. In addition, since inventories have recently fallen, the price will remain high. For the shares of Moderna, however, it went up to 10.3 percent. At $ 288.88, they were more expensive than ever. According to the index provider S&P Dow Jones Indices, the biotech company will be in the S&P 500 next week. The share price of the Biontech competitor has more than tripled in the past twelve months thanks to the high demand for its coronavirus vaccine. There was also demand for MoneyGram papers, which were at around 3 percent more expensive at times. According to the "Financial Times" rumors are circulating that the financial investor Advent has had an eye on the company. The title of the driver service broker Didi, on the other hand, slipped by 3.2 percent due to continued pressure from the government in Beijing. Chinese authorities say they have sent inspectors to the offices of the Uber rival to check how data security is being handled.