Wall Street closes lower worried about inflation
New York Stock Exchange ended with a sharp drop on Wednesday, weighed down by rising oil prices due to the war in the Middle East and by the US Federal Reserve's (Fed) cautious stance on inflation. AFP The Dow Jones retreated 1.63%, the Nasdaq index lost 1.46%, and the broader S&P 500 index ceded 1.36%.
TL;DR
- New York Stock Exchange closed with a sharp drop.
- Rising oil prices due to the Middle East war impacted the market.
- The Federal Reserve's cautious stance on inflation also contributed to the decline.
- The Dow Jones fell by 1.63%.
- The Nasdaq index lost 1.46%.
- The S&P 500 index decreased by 1.36%.