5/31/2022, 10:00 PM (Source: TeleTrader)
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US closes lower after Biden-Powell meeting

Wall Street closed the Tuesday session lower after United States President Joe Biden and Federal Reserve Chair Jerome Powell held a meeting, described as "constructive" by Brian Deese, Biden's top economic advisor. In addition, Deese and White House Press Secretary Karine Jean-Pierre shared optimistic views about the country's economy. Elsewhere, earnings reports by HP and Salesforce are coming up after the markets close.

The Dow Jones Industrial Average index closed with a 0.67% or a 223-point loss as Salesforce declined 2.51%. The Nasdaq 100 decreased 0.31% at the close pulled down by Illumina's 7.20% fall. The biotech company was the worst performer on the S&P 500, which lost 0.63% at the end of trading.

The euro was 0.41% down compared to the dollar, going for 1.07347 at 3:59 pm ET.

Baha Breaking News (BBN) / MS