12/16/2021, 10:01 PM (Source: TeleTrader)
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US closes lower, Nasdaq sinks by 425 points

Major stock markets in the United States closed lower on Thursday ahead of earnings reports Adobe Inc., FedEx Corporation, and Rivian Automotive Inc. are about to reveal. It also comes after the sell-off by companies such as Apple Inc., Tesla Inc., and Microsoft Corporation. Earlier, the Federal Reserve announced it is accelerating the pace of tapering to $30 billion per month and that it will adjust the monetary policy to the COVID-19 pandemic if necessary.

The Dow Jones Industrial Average dropped by 0.10% at the close as Apple Inc. lost 3.93%. The Nasdaq 100 plunged by 2.61% or 425 points. The S&P 500 declined by 0.88%. Adobe Inc. was the worst performer on both of the latter indexes, sinking by 10.19%.

The euro rose by 0.41% against the dollar at 3:58 pm ET to sell for $1.13340.

Baha Breaking News (BBN) / JR