11/15/2021, 6:28 PM (Source: TeleTrader)
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US erases gains as inflation fears take over

Major stock market indexes in the United States erased gains on Monday, after having started the session in the green.

With most investors focusing on US President Joe Biden's announced signing of the infrastructure bill, the inflation-prompted concerns, along with the consequent increase in Treasury yields, seemingly dragged Nasdaq 100 almost 100 points into the negative territory.

The Dow Jones Industrial Average stood flat at 12:28 pm ET, while the Nasdaq 100 and the S&P 500 concurrently dropped 0.55% and 0.14%, respectively. The euro plunged 0.5% versus the dollar a minute later, reaching its lowest point since July 2020 and going for 1.13900.

Baha Breaking News (BBN) / BU