6/1/2022, 10:00 PM (Source: TeleTrader)
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US closes lower after Fed's Beige Book release

Major stock market indexes in the United States closed lower on Wednesday after the Federal Reserve released its latest Beige Book in which it noted that certain districts "specifically expressed concerns about a recession." Earlier, the JPMorgan Chase & Co. Chairman and Chief Executive Officer (CEO) Jamie Dimon warned about the possibility of the country's output facing "a hurricane" amid Russia's military invasion of Ukraine and its economic consequences.

The Dow Jones Industrial Average closed 0.54% or 176 points lower as Walmart Inc. decreased by 2.47%. The Nasdaq 100 went down by 0.74%, with IDEXX Laboratories Inc. sinking by 5.62%. The S&P 500 declined by 0.75% as Albemarle Corporation sank by 7.80%.

The euro lost 0.76% to the dollar at 3:57 pm ET to sell for $1.06532. At the same time, the pound sterling fell by 0.92% against the greenback to go for $1.24866.

Baha Breaking News (BBN) / JR