5/20, 7:11 PM (Source: TeleTrader)
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Wall Street extends losses, Dow sinks 550 pts

Major stocks on Wall Street deepened losses mid-session on Friday with the negative sentiment rising among investors due to concerning inflation across the United States.

President of the Federal Reserve Bank of St. Louis, James Bullard, is expected to deliver remarks on the state of the US economy later today and provide further details on the Fed's upcoming rate hikes.

The Dow Jones tumbled 1.74% or 542 points at 1:12 pm ET, while the Nasdaq 100 declined 2.86% or 340 points and the S&P 500 lost 2.03%. The euro fell 0.33% against the dollar to sell for 1.05503 a minute later.

Baha Breaking News (BBN) / ND