Wall Street closes lower, weighed by inflation fears By Reuters


© Reuters. A trader trades at the New York Stock Exchange on November 8, 2021. Photo: Brendan McDermid/Reuters.

NEW YORK (Reuters) – Wall Street’s main indexes closed lower on Wednesday on inflation concerns and supply chain problems, as investors bet the Federal Reserve will raise interest rates sooner than expected to cool price increases.

While strong US retail sales data this week showed that an increase in inflation has yet to stifle economic growth, investors fear that further price increases could hurt growth and push the US central bank to tighten monetary policy before the expected time frame.

According to preliminary data, the benchmark Standard & Poor’s 500 index closed 11.78 points, or 0.25 percent, to 4,689.12 points, while the Nasdaq Composite Index fell 50.81 points, or 0.32 percent, to end the session at 15,923.04 points.

The industrial index closed down 208.07 points, or 0.58 percent, to 3,5934.15 points.

(Prepared by Wagdy Al-Alfi for the Arabic Bulletin)

Explanation of the risks: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn’t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Please enter your comment!
Please enter your name here