2/26, 10:02 PM (Source: TeleTrader)
more TeleTrader news

Dow sinks over 450 pts as Senate dismisses minimum wage increase

Wall Street stock markets closed mostly lower on Friday as the United States Senate ruled against the insertion of the $15 minimum wage into the relief package. Nevertheless, President Joe Biden expressed disappointment about the matter and assured that he is determined to achieve the minimum wage increase. Meanwhile, investors look forward to the federal passing of the $1.9 trillion stimulus bill, especially after the University of Michigan revealed a drop in consumer confidence in February.

The Dow Jones Industrial Average dropped 1.50% with Salesforce losing 6.31% after the earnings report yesterday arrived lower than estimates. Meanwhile, the Nasdaq 100 rose 0.63% as Starbucks gained 4.41% and the S&P 500 slid 0.48% led by EOG Resources falling by 8.75%.

The euro fell 0.8% against the dollar trading for $1.20655.

Breaking the News / LH