Dow closes almost 500 pts lower on economy worries

Dienstag, 28. Juni 2022 22:00

Major stock market indexes in the United States closed lower on Tuesday after Federal Reserve Bank of San Francisco President Mary Daly warned about the necessity of maintaining price stability to keep a "full employment." Earlier in the day, it was revealed the country's consumer confidence came in lower than expected. Later, the American Petroleum Institute (API) will publish its newest weekly report on the US's stocks of oil.

The Dow Jones Industrial Average closed 1.56% or 490 points lower as Nike Inc. plummeted by 6.99%. The Nasdaq 100 decreased by 3.09% or 370 points, with Datadog Inc. plunging by 7.49%. The S&P 500 declined by 2.01% as Etsy Inc. tumbled by 8.20%.

The euro lost 0.55% to the dollar at 3:58 pm ET to sell for $1.05255. At the same time, the pound sterling fell by 0.64% against the greenback to go for $1.21872.

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Baha Breaking News (BBN) / JR