Dow ends session 150 points lower for its third straight day of losses; European stocks close mixed as global markets gear up for U.S. inflation data
U.S. stocks finished Wednesday’s session near its lows as the market continued to struggle to break out from a tight range.
The Dow Jones Industrial Average fell more than 100 points for its third negative day in a row. The S&P 500 dipped 0.1%, 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 0.1%.
Industrials and financials were the two biggest losers among the 11 S&P 500 sectors, dragging down the broader market.
Meme stock mania continued Wednesday with day traders now focusing their attention on Clean Energy Fuels this time, pushing the stock up more than 30%.
European stocks struggled for direction on Wednesday as investors braced for the next reading of U.S. inflation due Thursday.
Sweden’s Sinch jumped 5.6% after announcing the $1.3 billion acquisition of mobile messaging platform MessageMedia.
At the opposite end of the European blue chip index, Austrian steel and technology company Voestalpine fell 3.5% after its fiscal full-year earnings report.
Source: CNBC