Dow extends losing streak to 5 days as stocks end sharply lower after inflation data

dow-extends-losing-streak-to-5-days-as-stocks-end-sharply-lower-after-inflation-data

All three major U.S. stock benchmarks closed lower Wednesday, with Dow Jones Industrial Average booking a fifth straight day of losses, as investors parsed fresh inflation data showing the annual pace slowed less than expected. The Dow Jones Industrial Average DJIA, -1.02% closed down about 1%, while the S&P 500 SPX, -1.65% fell about 1.6% and the Nasdaq Composite COMP, -3.18% dropped around 3.2%, according to preliminary FactSet data. The consumer-price index rose in April to an annual rate of 8.3%, slowing from the 12-month pace of 8.5% seen through March, according to a report Wednesday from the U.S. Bureau of Labor Statistics.

Source: Marketwatch

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