© Reuters. Traders work on the New York Stock Exchange on December 9, 2021. Photo: Brendan McDermid / Reuters.
Nov 9 (Reuters) – Wall Street closed sharply lower on Wednesday as Republicans’ earnings in the midterm Congressional election looked more modest than some expected and investors focused on impending inflation data that will provide clues on the extent of the increase in interest rates In the future.
Losses in major indices were compounded by higher yields following a weak 10-year US Treasury auction.
Wall Street’s decline on Wednesday ended a three-day streak of straight wins, during which the index gained around 3%.
With the election outcome still uncertain, investors turned their attention to October inflation data coming Thursday, which could shed more light on whether the Federal Reserve can soften its hawkish stance on rising interest rates. interest.
According to preliminary data, the Standard & Poor’s 500 index fell 78.91 points, or 2.06%, to close at 3749.20 points, and the Nasdaq Composite index lost 263.02 points, or 2, 46 percent, at 10354.54 points.
The industrial index fell 644.15 points, or 1.94 percent, to 32,516.68 points.
(Prepared by Mustafa Saleh for the Arabic Bulletin)
