Wall Street Dips Amid Inflation Concerns
NEW YORK – U.S. stocks closed lower Monday, pressured by rising crude prices and stagflation fears stemming from a weak jobs report. While all major indexes initially tumbled, tech shares, particularly chip stocks, rebounded, limiting Nasdaq’s losses.
Key facts:
- Major Indexes: Dow -0.96%, S&P 500 -0.56%, Nasdaq -0.20%.
- Sector Performance: Tech outperformed; Homebuilders and Banks under pressure.
- Russell 2000: Small-cap index slipped over 1.2%.
Analysts cite geopolitical uncertainty and persistent inflation as contributing factors. Investors are closely watching upcoming economic data releases, including the CPI and GDP reports.
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