US Stock Market Declined Because Of The Reports Of Biden's Plans To Raise Taxes For The Wealthy People

On Thursday, the American stock market decreased by an average of 1% after the reports of US President Joe Biden's plans to a capital gains tax from 20% to 39.6%.

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Image Source: Unsplash

Last week, the number of initial jobless claims decreased by 39 thousand – to 547 thousand American people. In March, sales in the secondary housing market fell by 3.7% and amounted to 6.01 million homes with reference to the yearly rate in the United States.

The median purchase price of the house in the secondary market increased by a record 17.2% in a year – to the maximum in the history of $329.1 thousand. The prices have increased all over the country.

The Russian ruble has strengthened to the level of 75.02 against the background of yesterday's statements about the withdrawal of Russian troops from the borders of Ukraine.

Oil prices are rising on Friday, but end the week with a decline amid mixed signals about near-term demand prospects. Since the beginning of this week, Brent has lost 1.4% ($65.82), WTI – 1.9% ($61.83).

On Friday morning, stocks in the Asia-Pacific region went up, stabilizing after the sweeping decline of their American counterparts.

Main market quotes:

  • S&P 500 (F) 4,138.12 +10.37 (+0.25%)
  • Dow Jones 33,815.90 -321.41 (-0.94%)
  • DAX 15,301.90 -18.62 (-0.12%)
  • FTSE 100 6,924.04 -14.20 (-0.20%)
  • USD Index 91.025 -0.296 (-0.32%)

Important events:

  • – UK PMI at 11:30 (GMT+3);
  • – USA PMI at 16:45 (GMT+3);
  • – European Central Bank President Lagarde Speech at 17:00 (GMT+3).

Disclosure: This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, ...

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