Dow drops more than 100 points, stocks fall ahead of key inflation report
(Image by Oleg Gamulinskiy from Pixabay)
(CNBC) -- U.S. stocks declined sharply in the final hour of trading as worries over global economic growth dented investor appetite for risk assets and Wall Street braced for key inflation data.
The Dow Jones Industrial Average dropped 300 points, or 0.97%, giving up its earlier gains as the S&P 500 plunged 1.31% and the Nasdaq Composite fell 1.4%. Earlier in the session, the Dow rose as much as 172 points as the S&P and Nasdaq fluctuated between losses and gains.
“There’s a lack of a catalyst, a lack of a leadership right now,” said Truist’s Keith Lerner. “Growth is slowing and global central banks are still in tightening mode and I think that’s concerning the markets.”
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