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time:2022-06-26 09:15:14 chess tactics Views:4591

The largest entertainment city on the Internet chess tactics .Dow tumbles more than 1,000 points, Nasdaq falls 5% as inflation spooks investors

The New York Stock Exchange logo on the floor, Wednesday,
Image Source : A (FILE)

The New York Stock Exchange logo on the floor, Wednesday, March 16, 2022. 


  • All three main Wall Street benchmarks surrendered gains made on Wednesday
  • While Dow Jones Industrial Average declined 3.12%, Nasdaq Composite dropped 4.99%
  • Earlier on Wednesday, the Fed had raised interest rates by half a percentage point

US stocks on Thursday ended sharply lower amid concerns that the Federal Reserve could further tighten monetary policy. The Fed had a day ago hiked the interest rate by 40 basis points to tame surging inflation, the biggest hike in two decades.

All three main Wall Street benchmarks -- Dow Jones, Nasdaq and S& 500, surrendered gains made during a relief rally on Wednesday. 

The Dow Jones Industrial Average declined 1,063.09 points or 3.12% to 32,997.97, its worst daily performance since October 2020.

The Nasdaq Composite dropped 647.17 points or 4.99%, to 12,317.69, its biggest one-day percentage decline since June 2020. It finished at the lowest since November 2020.

All the major technology stocks Alphabet, Apple, Microsoft, Meta, Tesla and Amazon slumped between 4.3% and 8.3%. 

The S&P 500 lost 153.3 points or 3.56%, to 4,146.87. Only a few constituents of the S&P 500's were in green one of which was Twitter.

Earlier on Wednesday, the US central bank had raised interest rates by half a percentage point. 

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