Dow Jones closes lower after 6-day record rally, concerns about economy and inflation

From Anadolu Agency: 2024-07-18 18:09:53

The Dow Jones Industrial Average closed lower, ending a six-day record rally. This came as concerns about economic growth and inflation weighed on the market. The index fell 0.6% to 34,079.18, while the S&P 500 and the Nasdaq also finished lower. Despite the decline, the Dow still posted its third weekly gain in a row. Investors are keeping a close eye on the economy as it continues to recover from the impact of the pandemic.

Overall, the market saw a mixed performance as investors digested the latest economic data. The tech sector was one of the hardest hit, with big names like Apple, Amazon, and Facebook all closing lower. Meanwhile, energy stocks managed to post gains as oil prices rose. Market experts are closely monitoring inflation and economic growth indicators as they assess the strength of the recovery. The volatility in the market is expected to continue as investors navigate these uncertainties.



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