U.S. stock exchanges experienced a downturn as some economic data raised concerns among investors.
On Thursday, the S&P 500 index decreased by 0.5%, marking its third decline in four days. The Dow Jones Industrial Average also saw a fall of 0.5%, while the Nasdaq composite registered a 0.7% drop from its previous all-time high.
An economic report released in the morning indicated that the number of Americans applying for unemployment benefits last week surpassed expectations. In another update, it was reported that wholesale inflation was higher than economists had anticipated last month, causing unease among market participants. Adobe shares fell significantly after the company provided financial forecasts that disappointed investors, contributing to the market’s negative trend. Additionally, bond markets responded with an increase in Treasury yields.
On Thursday, the closing figures for the indexes were as follows:
The S&P 500 closed down 32.94 points, or 0.5%, at 6,051.25.
The Dow Jones Industrial Average decreased by 234.44 points, or 0.5%, ending at 43,914.12.
The Nasdaq composite lowered by 132.05 points, or 0.7%, to settle at 19,902.84.
The Russell 2000 index, which tracks smaller companies, saw a more significant drop, falling 33.08 points or 1.4%, closing at 2,361.08.
Looking at the weekly performance:
The S&P 500 has decreased by 39.02 points, or 0.6%.
The Dow is down 728.40 points, equivalent to 1.6%.
The Nasdaq has a slightly positive outcome, up 43.07 points, or 0.2%.
The Russell 2000 index experienced a decline of 47.91 points, or 2%.
Considering the yearly performance, the following increases have been observed:
The S&P 500 is up 1,281.42 points, representing a rise of 26.9%.
The Dow has increased by 6,224.58 points or 16.5%.
The Nasdaq shows a remarkable gain of 4,891.49 points, corresponding to 32.6%.
The Russell 2000 has also risen, with an increase of 334.01 points, or 16.5%.
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