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 TOP NEWS

Indonesia News Portal for Traders | Financial & Business Updates

13 December 2024 04:14  |

Dow Falls More Than 200 Points After Warm Inflation Report, Nasdaq Retreats From Record

Stocks fell Thursday, weighed down by a hotter-than-expected U.S. inflation report, as tech shares failed to keep the momentum seen earlier in the week.

The tech-heavy Nasdaq Composite slid 0.6%, dipping back below 20,000. The broad market S&P 500 shed about 0.5%, and the Dow Jones Industrial Average also ticked lower by 234 points, or about 0.5%.

Tech shares led the decline, with Nvidia losing more than 1%. Software giant Adobe declined more than 13% following the company’s weaker-than-expected 2025 outlook. Meta Platforms, Alphabet and Amazon were slightly lower as well.

The producer price index, which tracks wholesale prices, increased 0.4% last month. Economists polled by Dow Jones expected a 0.2% increase on a monthly basis. The 10-year Treasury yield jumped to the highest level in two weeks following the data.

Source : CNBC

 

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