Dow falls 340 pts at close after remarks by Fed, IMF
United States stock indexes closed Thursday's trading session with losses after more Federal Reserve officials repeated that the central bank will not be reducing interest rates "for some time." Jobless claims numbers came in higher than what markets projected and the International Monetary Fund managing director said the IMF will cut the 2023 global growth outlook, sparking more worries about the direction in which the US economy is heading.
The Dow Jones Industrial Average index closed with a 1.15% or a 347-point loss as Verizon fell by 3.96%. The Nasdaq 100 decreased 0.76% at the close, pulled down by Splunk's 4.54% drop. The S&P 500 was down 1.02% at the end of trading with Carnival, its worst performer, declining 6.06%.
The euro was 0.89% lower compared to the dollar, going for 0.97966 at 3:59 pm ET.