Dow falls nearly 300pts after disappointing data

Friday, 16. July 2021 22:01

Major stock markets in the United States closed lower on Friday as the University of Michigan's preliminary report showed a monthly decline of 4.7% in consumer sentiment. May update's on business inventories noted a mild growth of just 0.5%. Meanwhile, President Joe Biden slammed big social media for not removing misinformation on COVID-19 on their platforms and therefore "killing people."

The Dow Jones Industrial Average dropped by 0.85% or 298 points at the close as Dow Inc. declined by 3.07%. The Nasdaq 100 declined by 0.76%, with Trip.com Group Limited plunging by 4.37%. The S&P 500 went down by 0.74% as Norwegian Cruise Line Holdings Ltd. sinking by 5.36%.

The euro lost 0.06% to the dollar to sell for $1.18059 at 3:57 pm ET.

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Breaking the News / JR