6/10/2022, 3:30 PM (Source: TeleTrader)
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Dow opens 500 pts lower amid inflation worries

Major indexes in the United States traded lower at the open on Friday, following the US Labor Statistics Bureau discouraging data reporting that the country's annual inflation reached 8.6%, its highest level since 1981. At the same time, luxury home sales in the United States declined 17.8% yearly, reaching the lowest point since the COVID-19 pandemic started.

The Dow Jones lost 1.64% or 518 points at the open, with the Boeing Company being its worst performer at 3.04%. The S&P 500 fell 1.62%, pulled down by Illumina Inc.'s 8.67% loss. The Nasdaq 100 tumbled 1.78% at the opening bell, with MercadoLibre plunging 3.37% at 9:31 am ET.

The Dow, the Nasdaq 100 and the S&P 500 respectively lost 12.79%, 26.6% and 17.44% since the start of 2022. The euro traded 0.73% lower against the dollar at 9:29 am ET, selling for $1.05404.

Baha Breaking News (BBN) / TB