11/22/2021, 10:00 PM (Source: TeleTrader)
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US closes mostly lower after Fed leadership nods

Major stock markets in the United States closed mostly lower on Monday after President Joe Biden nominated Jerome Powell for his second term as Federal Reserve Chair and Lael Brainard as Vice Chair. Meanwhile, the latest report for October showed a monthly rise in existing home sales in the country. In the meantime, Treasury Secretary Janet Yellen stated there is a need for concern in regards to higher inflation. Traders are also waiting for Zoom Inc.'s results in the third quarter, the report that will be released right after the closing bell.

The Dow Jones Industrial Average stood flat at the end of Monday's trading session. On the other hand, the Nasdaq 100 lost 1.16% as CrowdStrike Holdings Inc. plunged by 6.98%. The S&P 500 declined by 0.32%, with Under Armour Inc. plunging by 5.93%. The latter two indexes saw new record highs earlier in the day.

The euro went down by 0.46% against the dollar to sell for $1.12368 at 3:58 pm ET.

Baha Breaking News (BBN) / JR