US stocks end mixed as market volatility continues
NEW YORK, May 10 (Xinhua) — U.S. stocks ended mixed on Tuesday after a three-day losing streak.
The Dow Jones Industrial Average fell 84.96 points, or 0.26%, to 32,160.74. The S&P 500 rose 9.81 points, or 0.25%, to 4,001.05. The Nasdaq Composite Index rose 114.42 points, or 0.98%, to 11,737.67.
Seven of the S&P 500’s 11 primary sectors ended in the red, with real estate and utilities down 2.29% and 1.24%, respectively, leading the laggards. Technology climbed 1.58%, the best performing group.
The market reactions above followed a three-day losing streak for U.S. stocks, which saw the S&P 500 fall below the 4,000 mark on Monday for the first time in more than a year, amid a slump. growing concerns about the economic outlook.
“Despite our expectations of lower inflation and sustained growth, we believe investors should prepare for heightened equity volatility amid significant moves in key economic variables and bond markets,” he said. said Mark Haefele, chief investment officer at UBS Global Wealth Management, in a note on Tuesday.
Investors await April’s U.S. consumer price index, a key measure of inflation, which is expected to be released on Wednesday.
Last week, the US Federal Reserve announced a half-point hike in its benchmark rate, the biggest rate hike since 2000, as part of its efforts to fight inflation.