US closes mostly lower on inflation concerns

Friday, 22. October 2021 22:00

Major stock markets in the United States closed the trading session on Friday mostly lower, as Fed Chair Jerome Powell noted that current inflation levels were "well above target." At the same time, Powell said that tapering will likely end by mid-2022, while also adding that at the moment it isn't the time to raise interest rates.

In pandemic news, the White House stated that it doesn't expect disruptions due to vaccine mandates, as health officials indicated they were encouraged by the downward trend of cases.

The Dow Jones increased 0.21% at the end, led by American Express rising 5.50%. The Nasdaq 100 was down by 0.87% at the closing bell, while the S&P 500 finished 0.11% lower. Intel saw the most losses on both indexes falling 11.68% The euro gained 0.17% on the dollar trading for $1.16439 at 4:01 pm ET.

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