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12/1/2022, 4:21 PM (Source: TeleTrader)
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Dow plunges over 450 pts after manufacturing data

Major stock markets on Wall Street extended losses shortly after Thursday's opening bell following the latest batch of November manufacturing data for the United States that pushed negative sentiment.

The previous day was marked by a new speech by Federal Reserve Chair Jerome Powell, who confirmed the possibility for the Fed to slow down the pace of interest rate hikes later this month in response to the continuous decline in annual inflation readings. Investors were also bracing for the key November jobs data set for release tomorrow.

The Dow Jones sank 1.32% or 456 points at 10:33 am ET, while the Nasdaq 100 lost 0.66% and the S&P 500 slid by 0.68%. Salesforce led the market selloff, plummeting over 10% after third-quarter results and CEO's departure. After reaching a five-month high against the dollar earlier today, the euro traded 0.82% higher at $1.04877.

Baha Breaking News (BBN) / ND