Dow plunges 500 pts on new hints of early rate hike

Friday, 18. June 2021 17:05

Wall Street extended losses on Friday with the Dow Jones sinking more than 500 points following the hints that the Federal Reserve could increase its key interest rates next year.

On the coronavirus front, Canada extended restrictions on non-essential travel from the United States until July 21, while on the other hand, the European Union allowed American citizens to enter the bloc's borders without having to undergo obligatory quarantine.

The Dow plunged 1.51% or 511 points at 11:07 am ET, while the Nasdaq 100 fell 0.59% and the S&P 500 dropped 1.07.%. Meanwhile, the euro lost 0.45% against the dollar to trade for 1.18550.

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Breaking the News / ND