Wall Street closes lower after earnings, data
Equities on major United States markets closed in the red on Wednesday after economic data reports failed to lift traders’ sentiment. The investors also focused on corporate earnings, as UnitedHealth, Bank of America, Goldman Sachs and Citigroup all released their quarterly figures during the day. Meanwhile, the Federal Reserve noted in its Beige Book that coronavirus pandemic resulted in a “sharp” decline of economic activity.
The Dow Jones Industrial Average index was 1.86% down at the close as Dow Inc. dropped 8.88%.
The Nasdaq 100 fell by 1.15%, as the trading session ended, with Cintas Corp. losing the most, 7.25%.
The S&P 500 declined by 2.20% at the closing bell, dragged down by PVH Corp.’s plunge of 11.76%.
The euro was 0.63% lower compared to the dollar, changing hands for 1.09113 at 3:59 pm ET.
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