Dow Jones fell 164.07 points, still concerned that the Federal Reserve is in no rush to cut interest rates.

The New York Stock Exchange traded this morning (May 28) with the Dow Jones Index falling 164.07 points amid fears that the Federal Reserve will not be in a hurry to cut interest rates after indicating that it wants to see inflation slow for several more months.

The Dow Jones Industrial Average, the Standard & Poor's 500 Index, recorded an increase of 164.07 points, or 0.42%, at 38,905.52 points, and the Standard & Poor's 500 Index, an increase of 3.20 points, or 0.06%, to 5,307.92 points. The Nasdaq Index also recorded an increase of 86.37 points, or 0.51%, at 17,007.17 points.

Investors are concerned that the Fed will keep interest rates high for longer than expected. Following the release of the minutes of the April 30-May 1 monetary policy meeting, the United States released figures for the manufacturing and services sectors. Including a strong labor market

The latest FedWatch tool from CME Group indicates that investors expect the Fed will cut interest rates just once this year. It will happen in November. Originally expected in September

Meanwhile, officials at the European Central Bank (ECB) signaled an interest rate cut at its June 6 monetary policy meeting. If the ECB actually cuts interest rates by 0.25%, that will make the ECB cut rates faster than the Fed.

The market is watching the Personal Consumption Expenditures (PCE) price index, scheduled for release on May 31, for signs of the timing of a rate cut by the Federal Reserve.

The Personal Consumption Expenditures Index is a measure of inflation that the Federal Reserve gives importance to. It can detect changes in consumer behavior. It covers the prices of goods and services more broadly than the Consumer Price Index (CPI).

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