U.S. stocks traded lower this morning, with the Dow Jones index falling over 350 points on Wednesday.
Following the market opening Thursday, the Dow traded down 0.74% to 50,496.00 while the NASDAQ fell 0.96% to 25,431.83. The S&P 500 also fell, dropping, 0.74% to 7,331.78.
Leading and Lagging Sectors
Energy shares jumped by 1.1% on Wednesday.
In trading on Wednesday, information technology stocks fell by 1.2%.
Top Headline
The annual inflation rate in the U.S. accelerated to 4.2% in May, recording its highest level since April 2023, compared to 3.8% in the previous month, and in line with market estimates.
Equities Trading UP
- VS Media Holdings Ltd (NASDAQ:VSME) shares shot up 461% to $4.62.
- Shares of Big Tree Cloud Holdings Ltd (NASDAQ:DSY) got a boost, surging 379% to $8.82.
- Tianci International Inc (NASDAQ:CIIT) shares were also up, gaining 190% to $3.48.
Equities Trading DOWN
- Youlife Group Inc – ADR (NASDAQ:YOUL) shares dropped 55% to $0.47 after gaining around 206% on Tuesday.
- Shares of Global Mofy AI Ltd (NASDAQ:GMM) were down 41% to $0.064. Global Mofy AI announced a 1-for-50 reverse stock split, effective June 11.
- CCSC Technology International Hldngs Ltd (NASDAQ:CCTG) was down, falling 37% to $1.12 after surging 271% on Tuesday.
Commodities
In commodity news, oil traded up 1.3% to $89.36 while gold traded down 2.3% at $4,186.00.
Silver traded down 0.8% to $64.725 on Wednesday, while copper fell 1% to $6.2570.
Euro zone
European shares were lower today. The eurozone's STOXX 600 slipped 0.2%, while Spain's IBEX 35 Index fell 0.2%. London's FTSE 100 fell 0.2%, Germany's DAX declined 0.7%, while France's CAC 40 fell 0.3%.
Asia Pacific Markets
Asian markets closed mostly lower on Wednesday, with Japan's Nikkei 225 falling 1.89%, Hong Kong's Hang Seng Index declining 0.64%, China's Shanghai Composite dipping 0.42% and India's BSE Sensex rising 0.09%.
Economics
- U.S. mortgage applications rose by 10.8% during the first week of June, following a 2.5% decline in the prior period.
- The annual inflation rate in the U.S. accelerated to 4.2% in May, recording its highest level since April 2023, compared to 3.8% in the previous month, and in line with market estimates.
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