Dow ends session 150 points lower for its third straight day of losses
U.S. stocks finished Wednesday’s session near their lows as the market continued to struggle to break out from a tight range.
The Dow Jones Industrial Average fell 152.68 points, or 0.4%, to 34,447.14 for its third negative day in a row. The S&P 500 dipped 0.2% to 4,219.55, below its intraday high of 4,238.04 reached on May 7 and its closing record of 4,232.60. The Nasdaq Composite also fell about 0.1% to 13,911.75.
Industrials and financials were the two biggest losers among the 11 S&P 500 sectors, dragging down the broader market.
Still, many on Wall Street believe the latest meme stock episode should stay contained to a handful of names, unlike the GameStop trading frenzy in January that had an impact on the broader market.
Investors await the next reading on inflation to gauge if higher price pressures are just temporary as the economy continues to rebound from the pandemic-induced recession.
Asia-Pacific stocks muted; Dow falls for third straight session
Shares in Asia-Pacific were little changed in Thursday morning trade, after the Dow Jones Industrial Average saw its third straight day of losses overnight on Wall Street.
In Japan, the Nikkei 225 was fractionally higher while the Topix index dipped about 0.1%. South Korea’s Kospi advanced 0.1%.
Meanwhile, shares in Australia dipped, with the S&P/ASX 200 fractionally lower.
MSCI’s broadest index of Asia-Pacific shares outside Japan traded flat.
Reference: CNBC
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