Dow drops 300 pts at open as inflation fears persist

Thursday, 19. May 2022 15:31

Shares on the major stock market indexes in the United States traded lower at the open on Thursday, with the Dow Jones Industrial Average tumbling 300 points after the prior day's sell-off.

Apart from worries regarding inflation and the Federal Reserve's future moves to get it under control, the sentiment was seemingly also boosted by a higher-than-expected initial jobless claims weekly figure.

The Dow Jones dropped 1.01% or 310 points at the open. The Nasdaq 100 opened 0.41% in the red. The S&P 500 went down by 0.76% as the session started. Cisco Systems was the worst performer on all three benchmarks, as it dove 10.69% a minute into the session. The euro added 0.81% versus the dollar, selling for 1.05479 at 9:29 am ET.

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Author:
Baha Breaking News (BBN) / BU