US plunges at close, Dow down over 360 pts

Thursday, 21. April 2022 22:00

Major stock markets in the United States plummeted at the close on Thursday, with Dow Jones tumbling over 360 points after Federal Reserve Bank representatives announced that a 50 basis point increase of key interest rates will be considered at the next Federal Open Market Committee (FOMC) meeting in May. Furthermore, International Monetary Fund stated that global economic growth is highly dependent on the length of the conflict in Ukraine and the state of inflation.

The Dow Jones plunged 1.05% or 368 points at the closing bell as Salesforce Inc. lost 4.83%. At the same time, the Nasdaq 100 plummeted 1.99% or 278 points, with Align Technology falling 8.48%. The S&P 500 decreased by 1.48%, with Enphase Energy leading the losses, declining 12.31%.

The euro was 0.17% lower against the dollar at 3:58 pm ET, selling for 1.08362.

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Author:
Baha Breaking News (BBN) / AY