Wall Street extends losses, Dow down 450 pts

Wednesday, 12. May 2021 18:41

Major stock markets in the United States declined further on Wednesday deep into the session with negative sentiment pushed by record-high inflation.

Meanwhile, the Biden administration vowed to take steps necessary to mitigate the negative effects of the Colonial Pipeline shutdown on the country's fuel supply by issuing waivers to several federal states to boost fuel supplies.

The Dow Jones tumbled 1.40% or 480 points at 12:42 pm ET, while the Nasdaq 100 plunged 2.52% or 335 points. The S&P 500 fell 1.72%. Meanwhile, the euro lost 0.64% against the dollar to trade for 1.20701.

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