Dow loses over 330, Nasdaq over 160 pts at close

Wednesday, 19. January 2022 22:01

Major stock markets in the United States closed lower on Wednesday ahead of the American Petroleum Institute's latest report on the country's supply of crude oil. Meanwhile, the nation's air traffic remained affected by the ongoing deployment of the fifth-generation (5G) system around airports. Trading was also influenced by the rise in the prices of precious metals, particularly platinum and palladium, the latter of which is often used for making electronics and cars.

The Dow Jones Industrial Average lost 0.96% or 339 points at the close as Caterpillar Inc. declined by 3.57%. The Nasdaq 100 dropped by 1.07% or 162 points, with Moderna Inc. sinking by 6.72%. The S&P 500 fell by 0.97% as the Ford Motor Company plunged by 7.92%.

The euro gained 0.25% to the dollar at 3:59 pm ET to sell for $1.13456.

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Author:
Baha Breaking News (BBN) / JR