Wall Street stocks end lower on inflation data

Quick Summary:

Wall Street's main indices closed lower on Wednesday, with the Nasdaq leading declines, as technology stocks slumped on Thanksgiving eve on worries the Federal Reserve may be cautious about rate cuts after stubbornly strong US inflation data.

Investors also assessed data earlier in the day which showed the economy grew at a solid clip in the third quarter.

Goldman Sachs said in a note this week an escalation in tariff policy risks delaying the return to 2.0% inflation target.

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Category: EconomyBusiness

Markets: MalaysiaCanadaMexico

Topics: RateCutDebate InflationConcerns WallStreet MarketVolatility FedPolicy Markets TariffImpact TechStocks /Business/

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-28 @ 06:29:00 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 622 words

Reading Time: 4 minutes read

Sentences: 23 lines

Sentence Length: 28 words per sentence (average)

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Copyright Owner: © The Star

News ID: 23910193

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