US closes lower following volatile session

Tuesday, 12. April 2022 22:02

Major United States stock indexes closed lower on Tuesday after the Dow Jones surged as much as 250 points early on in the session. The latest inflation report saw a record 8.5% rise in prices in March, although Federal Reserve's Lael Brainard noted core inflation is slowing down. She added the Fed could start reducing the size of the balance sheet as early as June. The latest budget figures from the Treasury showed the federal deficit stood at $192.7 billion in March.

The Dow Jones dropped 0.26% at the close, with Cisco Systems losing 2%. The Nasdaq 100 was down 0.36%, as IDEXX Laboratories fell by 3.35%. The S&P 500 declined by 0.34%, led by CarMax Inc., which plunged 9.59%.

The euro traded 0.50% lower against the dollar and went for 1.08296 at 4:03 pm ET.

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Baha Breaking News (BBN) / DJ