U.S. stocks took a dip on Wednesday as investors weighed a continuation of strong earnings reports against lingering inflation concerns. Meanwhile, European stocks closed slightly higher as investors reacted to inflation data and a fresh batch of corporate earnings.
Despite strong retail earnings, stocks fall, and Visa drags the Dow down.
On Wednesday, U.S. stocks fell as investors weighed the continuation of strong earnings reports from big-box retailers against lingering inflation concerns. The Dow Jones Industrial Average fell 211.17 points, or 0.5 percent, on Wednesday and was about 1.7 percent lower than its previous high. The S&P 500 fell 0.2 percent to 4,688.67, while the Nasdaq Composite fell 0.3 percent to 15,921.57. Both were less than 1% off their previous highs. Visa’s 4.7 percent drop dragged down the Dow.
European stocks end slightly higher on the back of inflation fears; Sage is up 10% on earnings.
European stocks finished slightly higher on Wednesday as investors reacted to inflation data and a new batch of economic data.