Nasdaq index lost more than 2% amid fears of rising inflation

The Dow Jones index declined by 0.49%.

The Nasdaq electronic exchange index fell more than 2% at the opening of trading on Tuesday amid fears of rising inflation and lower demand for technology stocks.

According to data posted on the website of the New York Stock Exchange, the Nasdaq fell 286 points (2.13%) to 13,115.85 points. Thus, it continued the decline that was outlined on Monday, when the Nasdaq index lost 2.63% at the close of stock trading.

The US Dow Jones Industrial Average on Tuesday declined by 170.1 points (0.49%), settling at 34,572.74 points. The S&P 500 index lost 38.1 points (0.91%) and ended up at 4,150.34 points.

The Wall Street Journal notes that the decline in the indices occurs against the background of a shift in the trend towards industrial stocks, as well as investor concerns about a possible increase in inflation. “Everyone is now concerned about the topic of inflation, and this entails uncertainty,” the newspaper quotes Peter Langas, an investment analyst at Bessemer Trust. “The question is what measures the Federal Reserve will take.”

By 10:24 am US East Coast time (17: 24 GMT), the price of WTI crude oil supplies in June increased by $0.30 (0.46%), to $65.18.

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Author: Steve Cowan
Graduated From Princeton University. He has been at the Free Press since October 2014. Previously worked as a regional entertainment editor.
Function: Chief-Editor
Steve Cowan

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