6/14, 6:44 PM (Source: TeleTrader)
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Dow falls by over 250 pts amid inflation concerns

The Dow Jones Industrial Average dropped by over 250 points during the trading session on Monday after the Federal Reserve Bank of New York unveiled that media one-year-ahead inflation expectation went up to a new series-high of 4% in its May survey. Earlier, it was reported the Fed is considering raising interest rates sooner than anticipated in case the polling showed a faster pace of inflation growth than predicted.

The Dow Jones lost 0.75% or 257 points at 12:50 pm ET. The S&P 500 declined by 0.28% at 12:48 pm ET. On the other hand, the Nasdaq 100 rose by 0.33% at 12:49 pm ET.

The euro advanced by 0.12% against the dollar, selling for $1.21230 at 12:49 pm ET.

Breaking the News / JR