Wall Street has its worst day in six weeks. Dow with biggest fall in a year and a half – Stock Exchange

The last session of the week is not missed on Wall Street. The S&P 500 and Nasdaq Composite posted their biggest declines since March 7. But the day was even worse for the Dow Jones, which suffered its steepest decline in a year and a half.

The Dow Jones fell 2.82% to 33,811.40 points. You have to go back to October 28, 2020 to find a more penalizing session for the blue chips index.

The S&P 500 ended the day down 2.77%, closing at 4,271.78 points, and the technological Nasdaq Composite dropped 2.55%, to 12,839.29 points. Both indices have not suffered losses of this magnitude since March 7.

US stocks were pressured by lower-than-expected company results and/or disappointing bill forecasts, but also by input price data released by S&P Global, which showed the biggest rise since it began to be compiled. The rise in these prices stems from the strong increase in raw material, fuel, transport and salary costs.

On the corporate side, Verizon Communications cut its earnings forecast for the year and its shares fell 5.79%, the biggest drop in two years, while American Express indicated a sharp rise in costs in the first quarter, with shares having lost 2.8%.

Among the tech giants, Apple fell 2.78%, Amazon lost 2.66%, Alphabet, the parent company of Google, lost 4.15%, while Meta, owner of Facebook, retreated 2.11% and Microsoft depreciated 2.41%.

Source: Jornal de Negócios by www.jornaldenegocios.pt.

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