Wall Street lower premarket on inflation fears

Tuesday, 11. May 2021 10:30

Shares on Wall Street traded with losses during the premarket session on Tuesday following a major tech selloff in the previous session.

Traders were awaiting US consumer price data scheduled for a release later this week amid growing concerns that the Federal Reserve could tighten its monetary policy due to rising inflation. On the earnings calendar, Palantir Technologies was set to report its first-quarter results before the opening bell.

The Dow Jones fell 0.50% at 4:25 am ET, while the S&P 500 lost 0.80%. Meanwhile, the tech-heavy Nasdaq 100 dropped 1.36% as investors continued to dump growth stocks on inflation worries. The euro was up 0.12% against the dollar at 4:30 am ET, buying 1.21431.

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