Wall Street considerably down after new data on American economy

Companies are increasingly worried about government policy in the United States, such as cutbacks and import duties, says S&P Global. In addition, American consumers assume that prices will rise by an average of 3.5 percent per year over the next five to ten years. According to Bloomberg news agency, that is the highest percentage since 1995.

“There are signs that the economy may slid, and in combination with the fear of the unknown of the rates, this leads to a certain relapse in the market,” said market economist Peter Cardillo of Spartan Capital Securities in an explanation of Reuters news agency.

The Dow-Jones index closed the last trading day for the weekend 1.7 percent lower at 43,428.02 points. The wide S&P 500 fell 1.7 percent to 6,013.13 points and Tech -Graadmeter Nasdaq lost 2.2 percent to 19,524.01 points.

UnitedHealth dropped 7.2 percent. Investors reacted shocked to a message from The Wall Street Journal. The business newspaper reported that the US Department of Justice has started an investigation into the invoicing practices of the health insurer. Industry colleague CVS Health went down and lost 2.5 percent.

Booking Holdings fell 0.6 percent after the share had been opened higher. The results of the company behind the website booking.com showed that it took advantage of a busy holiday period in the fourth quarter. The profit was also higher than foreseen. The company warned that the strong US dollar will have a negative impact on the future results.

Tesla lost 4.7 percent. The British business newspaper Financial Times reported on Friday that the electric car manufacturer would be interested in taking over American factories of the ailing Japanese car maker Nissan. Later in the day, the NHTSA supervisor announced that Tesla should recall more than 376,000 cars in the United States for problems with power steering.