Dow Jones losses 0.16 on fear of inflation

Wall Street closed this Monday in red, and its main indicator, the Dow Jones, fell 0.16%. The market is still worried about the data that point to an increase in inflation in the US.

At the close of the New York Stock Exchange session, the Dow Jones dropped by 54.34 points to 34,327.79. The selective S&P 500 fell by 0.25% or 10.56 points, to 4,163.29.

The Nasdaq composite index, listing the main technology companies, lost 0.38% or 50.93 points to 13,379.05.

By sectors, the most significant losses were for communications companies, sinking by 0.88%. Besides, public services dropped by 0.86%, and technology yielded 0.7%.

Energy companies advanced a notable 2.3%, followed by basic materials with a 0.9% increase and financials with a profit of 0.13%.

Tesla fell off by 2%

The New York stock market experienced a volatile day. The inflation data for April still weighs heavily, which have especially dragged highly valued technology companies like Apple (-0.93%) and Microsoft (-1.20%).

Richard Clarida, Federal Reserve’s vice president, insisted that it is early for the central bank to initiate talking about the withdrawal of stimulus. It is something that investors fear.

Among the 30 listed on the Dow Jones, today the declines of Walt Disney (-2.12%), Verizon (-1.24%), and Salesforce (-1.22%) stood out.

Merck, known as MSD outside the US, finished in green. It advanced 1.98%, along with Dow Inc with a 1.53% gain and Chevron, which profited 1.16%.

Outside of that group, AT&T declined by 2.64% after announcing that it will merge its WarnerMedia division with Discovery, creating a streaming giant. Discovery shot up nearly 14%.

Tesla dropped by 2% after revealing that the investor Michael Burry, who inspired the movie “The Big Short,” owned bearish puts against the company as of March 31.