US shares lower premarket ahead of inflation data

Wednesday, 12. May 2021 10:45

Shares on Wall Street traded lower in the early premarket session on Wednesday as traders braced themselves for key inflation data.

US consumer price data for April was set to be released later in the day amid growing fears that the Federal Reserve could tighten its monetary policy due to rising inflation. However, Fed officials have stated on several occasions they expect any increase in inflation to be transitory.

The Dow Jones dropped 94 points at 4:40 am ET. Meanwhile, the S&P 500 was down 0.28% while the Nasdaq 100 fell 0.37% following this week's massive tech sell-offs. The euro declined 0.17% against the dollar at 4:45 am ET, buying 1.21303.

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