US closes lower, Dow plummets 460 pts
Major stock markets in the United States closed lower on Wednesday, as the country’s health agencies confirmed that the new Omicron coronavirus variant has been identified in California.
Meanwhile, Federal Reserve Chair Jerome Powell cautioned that the “risk of persistently high inflation has clearly risen,” while noting that the central bank will consider speeding up tapering at its next meeting. Additionally, the Fed reported in its Beige Book that the country’s economic growth has been affected by supply issues and labor shortages.
The Dow Jones ended the session by 1.34% or 462 points in the red, with Salesforce.com dropping 11.74%. The Nasdaq 100 was down by 1.60% at the closing bell. The S&P 500 finished 1.18% lower. Moderna led the losses on both indexes, falling 11.87%. The euro stood flat against the dollar trading for $1.13155 at 4:02 pm ET.
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